Gold Market Unaffected by Iran Elections
Gold Market Unaffected by Iran Elections

Gold Market Unaffected by Iran Elections

Gold Market Unaffected by Iran Elections

Elections can disturb the gold market, but it has not witnessed any fluctuations so far, said the head of Tehran Gold and Jewelry Union.
"Despite the fact that presidential candidates have already started their campaigns, gold market has remained steady. This shows that our domestic economy is formidable," Mohammad Keshti-Arai was also quoted as saying by Eghtesadonline.com.  
He noted that the global rally in the gold market has ended, which gave rise to a drop in domestic gold prices.
"Prices are predicted to keep falling in the next couple of days," he added.
The Bahar Azadi gold coin (Emami) changed hands for 12,280,000 rials ($327) in Tehran's market last Monday, but the global rally ended three days ago and domestic prices also moderated.
Emami gold coin registered a 100,000-rial drop in post-rally days and fetched 12,200,000 rials ($325.3) on Saturday. Half Azadi and quarter Azadi also experienced a drop of 70,000 rials and 80,000 rials to reach 6,950,000 rials ($185.3) and 3,820,000 rials ($102), respectively.
A number of international economic websites conducted surveys to determine the gold market trend.
As reported by Reuters, a majority of Wall Street and Main Street analysts and experts believe that the bullish trend in gold market will continue.
Gold market prices were impacted by political events across the world. The presidential election in France and the terrorist attack in Paris, changes in US tax regulations and political tensions in North Korea and Middle East impact the gold market. 

Short URL : https://goo.gl/mnogVq
  1. https://goo.gl/O383Cv
  • https://goo.gl/9cdTKr
  • https://goo.gl/7UYwYF
  • https://goo.gl/K39Ly9
  • https://goo.gl/Piw6vu

You can also read ...

Italy's Ansaldo Set to Produce Power From Iran's South Pars Gas Flares
Italy's Ansaldo Energia signed a memorandum of understanding...
Fate of Cryptocurrency in Iran Hangs in Balance
Virtual currencies are slowly but steadily gaining traction...
IRISL Returns to the Fold of Int’l Shipping Giants
The Islamic Republic of Iran Shipping Lines plans to replace...
Dairy Exports to Hit $1b
Iran is one of the top milk producers and has ambitious plans...
Money and Credit Council Approves Liquidity Risk Management Rules
Money and Credit Council, a top financial decision-making body...
1st Currency ETF  in the Pipeline
The Iranian capital market’s first foreign currency exchange-...
Iran Insurance Growth at 20%
The collective figure of Iranian insurance companies’ premiums...
Iran Eases Imports From Turkey
The issue of “consulate approval”, which negatively affected...

Add new comment

Read our comment policy before posting your viewpoints

Enter the characters shown in the image.