Gold price today
The 21-karat mithqal price Iraq actually trades in, live, with the dollar rate beside it — and the international price per gram in the currencies of the region. From our own feed, not scraped once a day from somewhere else.
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The price right now
Why the jeweller charges more than this
This is the international spot price converted into grams. It is what the metal itself is worth, and it is the number the whole market prices from.
It is not what you pay at the counter. A jeweller adds a making charge for the craftsmanship, plus their margin, and takes something off when buying back. So the shop price being higher than the figure above is normal and not a sign you are being cheated.
Almost every gold-price site quietly lets people assume spot equals the shop price, which is why so many arrive at the counter confused. Use this number as the baseline to judge a quote against, not as the quote itself.
How the karat maths works
Gold is quoted per troy ounce, which is 31.1035 grams. Divide the ounce price by that and you have the price of one gram of pure gold — 24 karat.
Lower karats are simply that number scaled by purity: 22k is 22/24 of pure, so about 91.7%. 21k is 87.5%, and 18k is 75%. That is the entire calculation, and it is the same everywhere in the world.
In Iraq and the Gulf most jewellery is 21k; Turkey works mostly in 22k.
The rate we convert at
Dinar figures use the market rate TNFX actually clears deposits and withdrawals at — not the Central Bank of Iraq official rate. The two differ by a wide margin, and the official rate is not one you can transact at.
Riyal, dirham and dinar of Jordan are pegged to the dollar, so those conversions are effectively fixed. The lira is taken live from our own feed.
Gold as a trade rather than a purchase
The price on this page is exactly what XAUUSD tracks. The difference is that buying jewellery means paying a making charge and storing metal, while trading the contract means taking a position on the same price without either.
It also means leverage, which cuts both ways: gold moves 20 to 40 dollars an ounce on an active day, so position size matters more here than almost anywhere else.
Common questions
What is a mithqal, and how is its price worked out?
In Iraq's gold market a mithqal is 5 grams, and shops quote 21-karat gold per mithqal. So the mithqal price is the 21k gram price times five — the figure at the top of this page, which updates with the feed.
What is the gold price per gram today?
The table above shows it by karat in six currencies, refreshed every 15 minutes from our own price feed.
Why is the jeweller's price higher?
Because a shop adds a making charge for craftsmanship plus a margin. This page shows the international spot price of the metal, which is the baseline underneath that.
What is the difference between 21k and 24k?
Purity. 24k is pure gold; 21k is 21 parts in 24, or 87.5%. So 21k costs 87.5% of the 24k price per gram.
Which dinar rate do you use?
The market rate we actually clear deposits and withdrawals at, not the CBI official rate. The gap between the two is substantial.
How often does this update?
Every 15 minutes while the market is open. Gold trades Monday to Friday, so the weekend shows Friday's close.
Is trading gold the same as buying it?
No. A CFD tracks this same price without a making charge or storage, but it uses leverage, so the position size you choose matters a great deal more.