13768
Gold Projected to Fall
Economy, Business And Markets

Gold Projected to Fall

Following the tentative agreement between Iran and the P5+1 (Russia, China, France, Britain, the US plus Germany) over Tehran’s nuclear energy program which was announced Thursday in Lausanne, it is projected that most foreign exchange rates will decrease against the rial, and this will doubtlessly also affect the gold market and gold price will reduce, said head of Gold and Jewelry Guild, Mohammad Keshti-Aray.
In an interview with IRNA, the official predicted that the effects of the nuclear deal will manifest itself in the gold market by Saturday noon. The range of exchange rates is clarified around 11 AM, he said, explaining that the rates which are pronounced by the central bank will determine most prices.
He clarified that although during the Nowruz holidays (the official Iranian spring break on event of the New Year that lasts for two weeks) the markets were not officially working, minor trades were made in the gold market.
After news regarding the landmark nuclear agreement surfaced most foreign exchange currencies depreciated against the rial. The gold bullion coin also fell by 150,000 rials ($5.3 at official exchange rate) during the two-week period.
The official expressed hope that the economy would grow with the nuclear deal now signed.

Short URL : http://goo.gl/2bDr70

You can also read ...

Economic War on Iran Is War on Eurasia Integration
Hysteria reigned supreme after the first round of US sanctions...
German Rail Operator, Deutsche Telekom End Iran Projects
German rail operator Deutsche Bahn and Deutsche Telekom are...
Decline in Forex  Rates Expected
While the foreign exchange rates are still considered bullish...
Emirati Paper: Baghdad Expected to Maintain Strong Economic Ties With Tehran
Iraq’s ties with Iran are likely to grow stronger as a result...
 New ATR Planes Join Iran Air Fleet
The ATR 72-600 planes recently delivered to Iran Air have...
NZ Exporters Wary of Rising  US-Iran Trade Tensions
New Zealand exporters are looking to worsening US-Iran...
 TPO Clarifies Import Ban List to Foreign Traders
The recent ban imposed on the import of certain products has...
Australian Teen Hacked Apple’s Computer Network
An Australian teenager has pleaded guilty to hacking into the...

Trending

Googleplus