On Friday, 30 October 2026, precious metals opened the day lower.
The key news: Gold fell 1.18% on Thursday to close near $4,021 an ounce, and traded around $4,000 this morning. Silver, platinum and palladium also fell. Strong US data, including 3.4% growth and jobless claims of 194,000, raised expectations of a Fed rate hike on 8–9 December. Gold is on track for a second monthly decline. In Dubai, the reference market for many Iraqi traders, 24K is AED 481.50 per gram and 22K is AED 445.75.
What it means for bar and lira buyers: Bars carry the lowest workmanship cost, so they track the world price most closely. Liras add a small premium for minting.
Example (dinar rate used: Baghdad market, 168,000 per $100): A 10g 24K bar is about $1,311, or about 2.20 million dinars. A gold lira containing about 8g of 22K gold (illustrative weight) is about $971, or about 1.63 million dinars, before premium.
Advice for customers: Buy bars and liras with a clear weight and purity stamp, keep the certificate, and compare buy-back prices before buying.
The honest caution: Metals can keep falling if the Fed raises rates, and the dinar rate can shift. Do not borrow to buy metals.
Jawhrat Al Maaden — bars, liras and precious metals.
