Economy, Business And Markets

Gold Coin Gains

Gold Coin GainsGold Coin Gains

Bahar Azadi gold coin sold for a record 10.030 million rials ($332) on Saturday, a 3.08% increase, compared with the previous day’s close.

The ‘Emami’ bullion coin was up a 2.78% and sold for 10.05 million rials. The half Azadi gold coin was traded at 5.08 million rials, marking a 3.67% surge. The rise in the benchmark coin’s price comes after gold prices reached a one-year high in global markets on Friday.  

 “The surge in gold coin prices is mostly triggered by higher prices in international markets,” Mohammad Keshti Aray, head of Gold and Jewelry Union, said.

“Gold prices jumped by $66 in recent days, mainly due to the surge in oil prices, the decline in the value of the US dollar in global markets as well as the decline in US unemployment rate,” Eghtesadnews website quoted him as saying.