EghtesadOnline: The Central Bank of Iran is preparing the gold market to issue bond certificates for the pre-purchase of gold coins in the capital market, the secretary-general of the monetary regulator has announced.
EghtesadOnline: Close to six million gold coins are to enter the market by the time the current Iranian year ends in March 2019 and this is expected to deflate the bubble in gold prices, which was formed ahead of the US decision on Iran’s nuclear deal, according to the spokesman of the Central Bank of Iran.
EghtesadOnline: 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.
EghtesadOnline: When the Central Bank of Iran abruptly announced the unification of the US dollar's exchange rate from Tuesday, the gold market reacted swiftly and prices declined.
EghtesadOnline: Most foreign currencies continued to gain against the rial on Wednesday in a rally that started from the early days of the current Iranian year that began on March 21. According to Fars News Agency, the rial was traded for 50,500 to the US dollar. Rial was also quoted at 61,800 to the euro in the unofficial market.
EghtesadOnline: Governor of the Central Bank of Iran has reiterated that foreign exchange rates will continue to dwindle while saying “we do not insist on illogically bringing down the price of gold coins” in reference to the regulator’s recent announcement that a country-wide coin presale is to start from Feb. 4.
EghtesadOnline: With the aim of stabilizing the gold market, boosting supply and facilitating easier access for people, the Central Bank of Iran is to start the presale of gold coins from Feb. 4, the director of the regulator's Office for Banknote Issuance announced.
EghtesadOnline: Experiencing rather uneventful days, both the currency and gold markets registered small rallies on Tuesday to nullify (for the time being) promises made by the government and the Central Bank of Iran that the gold coin price and the US dollar’s exchange rate will moderate in the coming days.
EghtesadOnline: The sudden leap in gold coins’ prices and their unprecedented bubble in Iran mainly stems from unreal and speculative demand in the market.
EghtesadOnline: Once again, the Iranian capital market beat all its rival markets, namely gold, forex and real estate, in terms of return on investment in the seven months of the current fiscal year (March 21-Oct. 22).