Forex Rates Behind Gold’s Glitter in Iran

Gold coin prices jumped above the all-time high of 120 million rials on Thursday as demand for the metal and foreign exchange rates soared again.    
Emami gold coin briefly broke past the psychological level of 12 million rials but retreated slightly by 100,000 rials to trade for 119.91 million rials. The price was 10 million rials, or 1%, higher compared to the previous day.  
The benchmark Bahar Azadi was unchanged at 112.5 million rials, according to Tehran Gold and Jewelry Union website.