Gold Presales Moving Long Term
Gold Presales Moving Long Term
Monday, April 23, 2018

Iran Gold Presales Moving Long Term

Monday, April 23, 2018

Iran Gold Presales Moving Long Term

The Central Bank of Iran, as part of its policy to adopt a long-term strategy in the gold market, has stopped the sale of gold coins with three-month maturities, local media reported on Sunday. 
Last week, the CBI had also ended the sale of gold coins with one-month maturities. The presales, which are taking place through Bank Melli Iran, are meant to stabilize the extraordinarily bullish gold market and, by extension, the foreign exchange market. 
Masoud Rahimi, director of CBI’s Office for Banknote Issuance, had said on Saturday that the bank is stopping gold coin sales with short-term maturities because due to high demand, the bank cannot mint coins within the deadline. 
Analysts also point to CBI’s intentions to prevent inflationary expectations in the gold market by shifting to long-term sales. 


Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.

Short URL : https://goo.gl/DFUugU
  1. https://goo.gl/HNd5GQ
  • https://goo.gl/qxtnfs
  • https://goo.gl/fYFUqp
  • https://goo.gl/iNjecJ
  • https://goo.gl/toHXq5

You can also read ...

Windfall Taxation on Gold Coin, Forex Trading
Government is to levy taxes on gold coin and foreign currency...
BMW, Mercedes Boxed in  by Tariff Battles
US President Donald Trump’s escalating trade spat threatens to...
China Auto Firms to Set Up Ride-Sharing Platform
Chinese firms FAW Group, Dongfeng Automobile and Chongqing...
Iran Could Join Russia’s Regional Payment Network
Russia is looking to establish a regional payment network in...
Challenges Ahead for Banking System
The chief executive of Bank Refah said limited overseas...
Exports From Fars Province Hit $1.3b
Exports from Iran’s southern Fars Province saw a 25% rise...
Non-Oil Exports From Shahid Rajaee Port Grow 3.8%
Non-oil exports from the southern Shahid Rajaee Port during...
IMIDRO Concludes Largest Aerial Geophysical Survey
Iran’s largest mining holding has concluded the last stage of...

Add new comment