EghtesadOnline: Iran’s gold market will reopen on Monday following a month-long hiatus due to restrictions ordered by the government on almost all businesses to impede spread of the coronavirus.
EghtesadOnline: Traditionally influenced by domestic currency rates, Iran’s gold market has moved away and taken a different route since the past week amid soaring prices in global markets.
EghtesadOnline: Foreign exchange witnessed a fresh rally in the open market, which was accompanied by a surge in the price of gold coin.
EghtesadOnline: Abdolnasser Hemmati, the newly-appointed governor of the Central Bank of Iran, said the ongoing volatility in the currency and gold markets is "unusual" and a byproduct of "enemies' conspiracy".
EghtesadOnline: The world’s biggest industrial metals exchange is taking on the most powerful players in the gold market with the launch on Monday of its first futures contract for the commodity since the middle of the 1980s.
EghtesadOnline: Geopolitical tensions are back on the radar, helping spur haven demand for gold. The Pentagon demanded that China immediately return a U.S. Navy underwater drone captured in the South China Sea, sparking new friction in a region where China has sought increasing control. The S&P 500 Index of equities slipped.