Gold Climbs 2% in Tehran

Gold prices surged on Monday in Tehran amid sharp increase in the international market. After weeks of a lukewarm market due to relative stability in forex rates, as the main driver of gold prices, the Emami gold coin jumped 2.5 million rials or 2% to reach 120.5 million rials. 
As with forex rates, the coin was largely stable in the past two months after bouts of sharp volatility. Plunging more than 25%, the coin was the worst-performing asset in the month from Oct. 15 to Nov. 15.  
Half Bahar Azadi coin recorded a 2.4% increase on Monday to be traded at 63.5 million rials, and 18-karat gold quoted at 11.84 million rials per gram, more than 2.2% higher compared to Sunday, the Tehran Gold and Jewelry Union website said.