Iraqi economic expert predicts gold prices to reach 600,000 Dinars per mithqal by 2025

Shafaq News/ Economic expert Mohammed Al-Hassani forecasted that gold prices could rise to 600,000 dinars per mithqal (equal to five grams) by 2025.

In an interview with Shafaq News Agency, Al-Hassani explained, "Local gold prices are expected to continue rising due to the persistent increase in global gold markets and growing fears of an economic recession in the United States, which strengthens gold as a haven."

"This concern coincides with a decline in the dollar index and falling global stock markets," Al-Hassani noted that temporary declines in gold prices are often due to investors selling off their holdings.

The expert also pointed out that jewelers in Iraq advertise attractive prices to customers. Still, in reality, they add high crafting fees to the gold, reaching over 80,000 dinars per mithqal, which is often unknown to buyers.

Gold prices in Iraq are determined by jewelers based on global market trends and local dollar prices.