Baghdad: Gold prices, both foreign and locally produced, recorded a noticeable decline on Saturday in local markets in Baghdad as well as in Erbil.

According to National Iraqi News Agency, wholesale markets on Al-Nahr Street in central Baghdad reported the selling price of one mithqal of 21-karat Gulf, Turkish, and European gold at IQD 1.040 million, while the buying price stood at IQD 1.036 million, compared with IQD 1.171 million in trading on Thursday.

The selling price of one mithqal of Iraqi 21-karat gold was IQD 1.010 million, with a buying price of IQD 1.006 million.

In retail goldsmith shops, selling prices for 21-karat gold ranged between IQD 1.040 million and IQD 1.050 million, while Iraqi gold was sold at prices ranging from IQD 1.010 million to IQD 1.020 million per mithqal.

In Erbil markets, the selling price of 22-karat gold reached IQD 1.130 million, while 21-karat gold was priced at IQD 1.078 million, and 18-karat gold was sold at IQD 925,000.