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Demand for Gold, Forex Still High

Demand for Gold, Forex Still High Demand for Gold, Forex Still High

Gold coin prices soared again in Tehran riding on the upbeat mood in the currency market and the omnipresent rush to buy the precious metal
The Emami gold coin extended gains on Wednesday to strengthen above 140 million-rial level for the day, after briefly touching the critical level a session earlier. The coin rose 3.12% to be traded at 144 million rials, indicating 4.5 million rials growth in one day.
 Bahar Azadi gold coin was priced at 136 million rials, up 3 million rials compared with Tuesday’s close. Likewise, one gram of 18-karat gold gained 2.4% to reach 13.11million rials, according to eghtesadnews.
Rising demand plus spike in forex rates are seen as the driving forces behind the unprecedented gold rally in the country that has taken prices to historic highs.

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