Gold Smashes Record

Coming on the heels of the chaotic forex market, gold prices shot up in Iran on Sunday as the Emami gold reached 161 million rials, rising 5.5 million rials or 3.41% in one day. 
It was the highest price ever for the precious metal. While gold prices in Iran are always influenced by currency rates, the precious metal has overtaken due to the frenzy of buyers seeking a safe haven as their rial savings keep shrinking at terrible speed. 
Half-Bahar Azadi gold coin gained 5.7% and was quoted at 87.5 million rials. Likewise, one gram of 18-karat gold rose 2% to reach 14.48 million rials.