Tehran Market: Gold, USD Go Separate Ways
EghtesadOnline: On Thursday, which marked the last trading day in Iran’s markets, gold coin had a slight drop of 25,000 rials ($0.51) and fetched 16.33 million rials ($336), Banker.ir, an analytical news website, reported.
The decline comes, as the benchmark coin is still at a record high. The approaching Iranian New Year, which marks a time of gift-giving for families, has only intensified the sentiments. The Central Bank of Iran’s double initiatives to both hold the presale of gold coins at attractive prices and launch gold coin auctions have done little to cool the rally. The US dollar was still in a bullish mood on Thursday with rial being traded at 48,480 to the greenback having weakened against the American currency further. The rial also dropped against the European currency and was quoted at 59,110 to the euro, Financial Tribune reported.
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