Jawharat Al-Maaden presents its bars, liras and metals brief for Friday, 16 October 2026.
The key news: Spot gold is near $4,174 an ounce, steady after a rise of more than 1% on Thursday. Fed Chair Kevin Warsh gave no signal before the 27–28 October rate meeting. In Iraq, the dollar traded at 166,500 dinars per $100 in Baghdad on 15 October, and Kirkuk’s main oilfields passed to a joint operator with BP.
What it means for our customers: Gold liras and bars follow the world gold price closely. Their value is mostly the pure gold inside, plus a premium for minting and demand.
Example: A standard 22K gold lira weighs about 7.2 g and contains about 6.615 g of pure gold. At $4,174 an ounce, that gold is worth about $888, or about 1,478,000 dinars at the Baghdad market rate of 166,500 dinars per $100. The shop price will be higher because of the premium.
Advice for customers: Compare the premium on liras and small bars before you buy. Keep coins in their original packaging, and keep your receipts.
The honest caution: Gold prices go down as well as up, and the Fed decision on 28 October could move them either way. Never borrow money to buy gold.
Jawharat Al-Maaden — bars, liras and precious metals.
