Bahar-e Azadi gold coin lost 90,000 rials of its value in Tehran’s market on Saturday, marking a 0.81% drop compared with the previous day’s close. The benchmark gold coin sold for 11.09 million rials ($357.2) The Emami gold coin was traded at 11.1 million rials, down by 0.87%. The half Azadi gold coin was traded at 5.59 million rials, marking a 0.36% surge. The quarter Azadi coin posted a 0.34% rise, changing hands at 2.90 million rials. In global markets, gold prices remained range-bound between $1,336 and $1,340 on Friday morning in London and is set to be higher on the week, in what some commentators called a “Rally Losing Steam” as global equities rose, bullionvault.com reported. The US dollar remained solid amid strong expectations of a Fed rate hike later this year. After the release of worse-than-expected US retail sales data, the gold price rose to $1,354.
