A government advisor rules out a drop in gold prices in Iraq during 2026, and identifies the reasons.
A government advisor rules out a drop in gold prices in Iraq during 2026, and identifies the reasons.
2026-01-30
The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed today, Friday (January 30, 2026), that a significant drop in gold prices in Iraq during 2026 is unlikely.
Saleh told the official agency that “gold prices are unlikely to fall significantly this year, as the strongest trend is towards continuing to rise or stabilizing at record levels, especially with the continuation of global conditions that support gold as a safe haven.”
He added that “the global rise in gold prices, exceeding the $5,000 per ounce mark, is due to the convergence of several economic and geopolitical factors that have made the yellow metal the safest option for investors,” explaining that “the most prominent of these factors is the weakness of the value of the US dollar, which increases demand for it in other currencies, as well as rising inflation rates and rising commodity prices that reduce the purchasing power of money.”
Saleh explained that “lower interest rates have reduced the opportunity cost of owning gold, which has greatly boosted demand for it,” noting that “geopolitical risks and global tensions are undoubtedly pushing investors towards gold as a safety valve.”
He added that “there is a growing demand from major central banks, especially in China and India, to bolster their gold reserves, accompanied by increased pressure on prices as a result of rising investment demand for bullion and gold investment funds,” noting that “weak confidence in financial markets and crises in the stock and bond sectors have made gold the only option, especially with expectations of a global recession.”
Saleh concluded by saying that “these factors combined make gold the most stable haven in the face of crises and fluctuations, in a world dominated by anxiety and economic uncertainty.”
burathanews.com
