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Gold Coin Surges

Gold Coin SurgesGold Coin Surges

Emami gold coin in Tehran market rose significantly on Saturday to mark its biggest gain since March 21. According to Tehran Gold and Jewelry Union's website, the coin gained 160,500 rials ($4), and fetched 12,161,500 rials ($325). Bahar Azadi , another benchmark coin was traded for 11,750,000 rials ($314), slightly rising from the previous day's closing price.

The Saturda bull run came as international markets were closed for the weekend.

However on Friday gold edged lower in global markets to hit a three-week low and was on track for a second weekly fall as upbeat US economic data supported the dollar.  

In the foreign exchange market the rial was quoted for 37,340 to the US dollar, continuing its fall against the greenback which started a week earlier.

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