Gold Dajaluh presents its customer brief for Friday, 16 October 2026.
The key news: In Baghdad, Gulf 21K gold sold at 970,000 dinars per mithqal on 15 October. Shops were buying the same gold back at 966,000 dinars. Prices were 3,000 dinars lower than the day before. The dollar was at 166,500 dinars per $100 on the main exchanges.
What it means for you: Every gold shop has two prices. The sell price is what you pay. The buy price is what the shop pays you when you sell. The difference is small on the metal, but workmanship (the making charge) is usually not paid back when you sell.
Example: If you buy 3 mithqal of Gulf 21K today, the metal costs 2,910,000 dinars (about $1,748 at 166,500 dinars per $100). If you sold it back the same day, the metal gap alone would be 12,000 dinars. With an illustrative workmanship of 15,000 dinars per mithqal, you would also not get back 45,000 dinars.
Advice for customers: Buy gold you plan to keep for a long time. Ask the shop to write the weight, karat and workmanship on the receipt.
The honest caution: Gold prices go down as well as up. Never borrow money to buy gold.
Gold Dajaluh — clear prices, honest gold.
