Najaf: The Expensive Gold Market of Iraq

Gold MarketIraqi Dinar 123 News :- The gold prices in Iraq are increasing with every passing day for the last three months. Central bank of Iraq is one of the biggest buyers of the gold in the region and also the gold supplier in the domestic market of Iraq. The goldsmiths and other gold importer companies now cannot import gold directly from other countries of the world. The goldsmiths and these companies are only buying gold of central bank of Iraq for their routine use.

Central bank of Iraq is of the view that it wants to control the price of the gold and its standard in the market. But the gold prices are continually rising in Iraq especially in the Najaf, the biggest market of gold in Iraq. The local people complain for the rise in gold prices in the region. The goldsmiths on the other hand say that international market and global conditions impact the prices of gold in the local market. The Najaf is also known as city of gold locally because of big markets of the gold in the city. Therefore the variation in the gold prices is first seen in this region.

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