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Gold Price in Tehran Market Hike Explained
Gold Price in Tehran Market Hike Explained

Gold Price in Tehran Market Hike Explained

Gold Price in Tehran Market Hike Explained

The recent 200,000-rial ($4.66) increase in the rate of Bahar Azadi gold coin and the 30,000-rial ($7) rise in gold prices have followed the $28 hike for each ounce of gold in the world market, the head of Tehran’s Gold and Jewelry Union said. “The gold coin auctions of the past few weeks have had a tremendous impact on the market. If it were not for them, we would have been facing a severe bubble, but they have decreased the volatility,” Mohammad Keshti-Aray also told IBENA. He added that foreign exchange rates also witnessed a rally in the Iranian market. Keshti-Aray noted that the volume of deals currently stands at a normal level in the market and nothing is out of the ordinary. Each Emami gold coin was traded for 14.61 million rials ($340.63) on Saturday, TGJU’s website announced.

 

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