Iraq · IQD · May 2020
Gold Price in Iraq — May 2020
Iraq gold price archive for May 2020 — historical IQD reference rates per tola, gram and ounce.
May 2020 gold market: Grind higher as real yields sink
Range-boundA consolidation that held the April breakout.
Gold consolidated its gains in May, trading in the $1,690–$1,750 band. Record-low real yields and a steady expansion of central-bank balance sheets kept a firm floor under prices even as parts of the economy began reopening.
What drove gold in May 2020
- record-low real yields
- expanding central-bank balance sheets
- reopening optimism capping upside
- steady investment inflows into gold ETFs
Key events in May 2020
- May 18Gold pushes toward $1,765 on stimulus and ETF buying
What happened next
May's tight consolidation built the base for the explosive summer rally.
For gold buyers in Iraq
May was a patience month — gold held its gains rather than extending them, rewarding accumulation over timing.
The 2020 gold market: COVID crash, recovery, and the all-time high above $2,000
March 2020 saw a brief gold sell-off during COVID liquidity panic (-12% in 2 weeks) before the metal rocketed to an all-time high of $2,075 in August. Year close: $1,898 — gold's best year since 2010.
Key drivers in 2020
COVID pandemic, unlimited Fed QE, fiscal stimulus, negative real rates, USD weakness
2020 XAU/USD high
$2,075 (Aug)
2020 XAU/USD low
$1,452 (Mar)
Era context — The modern bull market (2019 to today)
Gold's second major bull market of the 21st century. Driven by COVID stimulus, Russia sanctions, central-bank accumulation at record levels, and the structural shift toward a multi-polar reserve system. New all-time highs reached repeatedly since 2020.
The Iraq gold market
Iraq's retail gold market uses the mesghal (4.6083 g) as the traditional unit alongside the gram. Baghdad and Basra host the most active retail bullion markets. Demand is closely tied to USD/IQD parallel-market rates.
Standard quote unit
mesghal
Common purity
21K
Currency
IQD (ع.د)
Daily gold price — May 2020, Iraq
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$1,715.91/oz
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$1,713.73/oz
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$1,709.10/oz
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$1,699.60/oz
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$1,691.50/oz
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$1,704.10/oz
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$1,704.10/oz
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$1,712.34/oz
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$1,702.80/oz
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$1,702.40/oz
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$1,708.40/oz
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$1,731.60/oz
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$1,735.40/oz
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$1,765.26/oz
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$1,734.70/oz
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$1,738.00/oz
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$1,748.30/oz
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$1,724.90/oz
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$1,733.60/oz
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$1,735.63/oz
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$1,733.60/oz
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$1,720.30/oz
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$1,694.60/oz
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$1,717.40/oz
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$1,728.70/oz
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$1,744.69/oz
How Iraq gold prices are calculated on this page
Source. The international XAU/USD spot price comes from gold-api.com's historical archive (London PM-fix benchmark). The IQD/USD exchange rate comes from exchangerate-api.com's 2020 year-end snapshot.
Conversion. Every IQD figure on this page is computed as XAU/USD price × IQD/USD rate. We use the year-end exchange rate consistently across all May 2020 prices on this page.
Per-unit math. Per-gram = per-ounce ÷ 31.1035. Per-tola = per-gram × 11.664. Per-10g = per-gram × 10. Per-kilo = per-gram × 1000. Karat values multiply per-gram by the purity ratio (24K = 0.999, 22K = 0.916, 21K = 0.875, 18K = 0.750, 14K = 0.585, 10K = 0.417).
What this page does NOT include. Local sales tax / VAT, customs duty on imports, dealer making charges, jewellery design premiums, or coin numismatic premiums. To go from this pure-metal value to a final retail rate in Iraq, add the country-specific levies described in the “Iraqgold market” section above.
FAQ — Iraq gold price in May 2020
What was the gold price in Iraq in May 2020?
Historical IQD gold price archive for Iraq in May 2020.
What was the 24K gold rate per tola in Iraq in May 2020?
Tola-based gold rate for Iraq in May 2020 requires both XAU/USD and IQD/USD data which is unavailable for this period.
What was the 21K gold rate per mesghal in Iraq in May 2020?
Retail rate calculation requires international XAU/USD spot and IQD/USD FX, both of which are missing for this period.
How was the local currency price calculated?
IQD prices on this page are computed from the verified international XAU/USD spot price for May 2020 (sourced from gold-api.com), multiplied by the 2020-end IQD/USD exchange rate from exchangerate-api.com. We use year-end rates as a single reference point for the entire month — for most stable currencies the within-year FX drift is small, but during currency crises (PKR 2022–23, TRY 2022, ARS 2024 etc.) the actual mid-month rate may differ.
Why does the retail price in shops differ from this number?
The ع.د figures here represent the international gold spot price converted to IQD at the 2020-end exchange rate. Iraq's retail jewellers add (1) import duties and sales tax (varies by SKU and karat), (2) dealer making charges (typically 3–12% of metal value), and (3) a small premium for purity certification on bars. Always verify the exact day's retail rate with a reputable local dealer before transacting.
Want today's rate in Iraq? See live gold prices in Iraq with minute-by-minute updates and per-karat breakdowns.
Different month or year? Use the prev / next buttons above, or jump to the full 2020 archive or the USD-only May 2020 page with the country-by-country list at the bottom.
Other markets? Compare May 2020 prices across other major gold-trading countries: Saudi Arabia, Iran, Kuwait, Jordan, Turkey.
Disclaimer: Historical gold prices on this page reflect the international XAU/USD spot price for the requested period, converted to IQD at the 2020-end exchange rate. They are intended for informational and educational use only and do not constitute investment advice or a price quote for buying or selling physical gold today. Always verify current local rates with a reputable bullion dealer in Iraq before transacting.