Business And Markets

Gold Drifts in Negative Territory

Gold Drifts in Negative Territory
Gold Drifts in Negative Territory

Apparently influenced by bearish trends in the local currency market, gold prices too are of the descending order in Tehran at a time when the precious metal is shining in the global market. 
Domestic gold prices had surged at the same pace as currency rates since the spring of last year when the market took a hit from the new US economic sanctions.
Now with foreign currency in calm waters for months, gold has lost its luster for investors disappointed with the poor returns, causing the gold bubble to deflate. 
From what is increasingly visible, gold is in reverse gear and residing in negative territory with the domestic market lagging behind global trends and sounding the alarm that the precious metal could be exposed to the threat of smuggling. 


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