Business And Markets

Gold Market Declining

Gold Market DecliningGold Market Declining

Head of Gold and Jewelry Union has anticipated that the continuous downward trend of global gold prices will affect the domestic market of gold and gold coins. The global gold prices have recently hit a four-year low.

Also, as Mohammad Keshti Aray said, the beginning of the month of Muharram – a holy month in the Islamic calendar — in the next 20 days (October 26) is another reason that will intensify the declining trend of gold prices in the domestic market.

So far, however, the drop in the domestic gold prices has been totally attributed to the global downward trend, said Keshti Aray, adding that the market is experiencing a normal situation and domestic trade has not influenced the prices yet.