Welcome to Jawahir Al-Khaleej’s gold market update for Friday July 31. Gold has eased back about 1.2% today to around $4,060 per ounce, after two days of gains following the Federal Reserve’s decision. But there’s good news for our customers across Iraq: gold is finishing July higher — its first monthly gain in five months. Prices remain attractive and below January’s record. Here is our clear and friendly guide.
Today’s prices:
24K: ~$130.40/gram | 22K: ~$119.55/gram | 21K: ~$114.10/gram | 18K: ~$97.80/gram
What happened this week? The US Federal Reserve held interest rates steady on Wednesday, which lifted gold at first. But the Fed chair spoke firmly about fighting inflation, so gold gave back some gains. Then US inflation came in cooler — one key measure fell for the first time since April 2020 — which helps gold, and the US dollar weakened, helping too. At the same time, the war between the US and Iran reignited, with fresh US strikes, keeping some pressure on the market.
Why is gold easing today? After two days of gains, some investors are taking profits, and the Fed’s tough talk keeps a possible September rate rise in view. But across the whole month, gold rose — a positive sign after five difficult months.
What this means for you: Gold is about 27% below its January record. A 50-gram gold necklace costs approximately $2,505 less than at that peak — good value, and today’s small dip is a nice time to buy.
Designs worth exploring: The styles defining 2026 include lightweight everyday pieces like delicate pendants and slim chains, thin stackable 22K bangles for a personalised wrist stack, coloured gemstones such as sapphires and emeralds in simple gold settings, and sculptural, flowing gold shapes.
Our welcoming guidance:
For weddings, engagements, and gifts: today’s dip is a good time to buy at attractive prices.
For those building a collection: buying while prices remain below January’s peak means better value on every piece.
For long-term savers: central banks bought a net 41 tonnes of gold in May and 244 tonnes earlier this year, and even cautious banks still expect $5,000 gold once the Fed stops raising rates.
A note of balance: Gold could dip a little more if the Fed stays hawkish, or rise if inflation keeps cooling, and the war remains unpredictable. Please confirm the live price with us before purchasing.
Gold near $4,060 is up roughly 21.5% compared to a year ago, and just posted its first winning month since February — a reminder of gold’s lasting value, which Iraqi families have relied upon for generations. Jawahir Al-Khaleej is delighted to welcome you.
Today’s prices: 24K — $130.40/gram | 22K — $119.55/gram | 21K — $114.10/gram
All prices USD. Indicative only. Volatile market. Please confirm final pricing in store.
