EghtesadOnline: Iran's foreign exchange and gold markets have witnessed historic rallies in the past few days as May 12 approaches, a date when US President Donald Trump is widely expected to deal a fresh blow to the country's landmark multilateral deal with world powers.
EghtesadOnline: Tehran foreign exchange and gold markets experienced another bout of rallies on Wednesday, as investors turn to safe-haven investments that have led to a price uptrend not witnessed since 2012.
EghtesadOnline: After gold coin’s continued rally in the past month, which pushed its value to the highest level in nearly six years in Tehran’s market on Monday, the yellow metal’s surge lost momentum over the coming days and recorded two significant drops consecutively on Wednesday and Thursday.
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: As if the recent gold rally was not enough of a surprise, the precious metal continued to gain in strength in Tehran's market–this time fueled by the Central Bank of Iran's decision to get tougher on the interest rate cut's implementation.