Baghdad, 23 October 2026. All the main precious metals are heading for a weekly loss this Friday.
The key news: spot gold is near $4,016 an ounce, down about 3.5% on the week. Silver fell 1% to about $53.98, platinum is near $1,568.58 and palladium near $1,054.50. Higher oil prices and expectations that US rates will stay high have weighed on the whole metals group.
What it means for Jawhrat Al-Maaden customers: buyers of bars and liras get slightly better value this week. Silver and platinum have fallen too, giving more choice to people who want to spread their purchases across metals.
Example (metal value only, at the Baghdad market rate of about 1,695 dinars per dollar): a 10-gram 24K gold bar is about $1,291, or about 2.19 million dinars. A gold lira of about 7.2 grams of 22K holds about $854 of gold, or about 1.45 million dinars. One kilogram of silver is about $1,735, or about 2.94 million dinars.
Advice for customers: for saving, bars and liras usually carry lower making charges than jewellery. Check weight, purity and certificate, and ask for the buy-back price before you buy.
The honest caution: silver and platinum move more sharply than gold, in both directions. Buy only with money you can set aside, never with a loan.
Jawhraraalmaaden — bars, liras and precious metals in Iraq.
