Gold prices vary across Kurdistan Region

Shafaq News – Erbil

Gold jewelry prices in the Kurdistan Region fluctuate markedly across markets in the Region and other parts of Iraq, according to local jewelers.

A field survey by Shafaq News in Erbil found that prices differ across 18- 21- 22- and 24- carat types, with engraved jewelry showing the highest variation.

Jewelers attribute the differences to variations in craftsmanship fees, gold quality, and country of origin.

Shevan Mohammed, a local jeweler, told Shafaq News that craftsmanship fees rise when global gold prices increase, since engraving workshops are paid in gold rather than cash.

He explained that workshops typically receive between 50 and 200 grams of gold per kilogram of engraved work, clarifying that transactions between jewelers and workshops are conducted in gold, while customers pay both the price and fees in cash.