EghtesadOnline: Forex and gold prices continued to fall on Wednesday in Tehran. The Emami gold coin lost 3.42% and was priced at 117 million rials.
EghtesadOnline: Gold prices swung like a pendulum Sunday in Tehran despite the certainty expressed by analysts that the fluctuations will fade soon and prices will continue to fall.
EghtesadOnline: Currencies took a drubbing in Tehran after rallying for seven consecutive days and the decline soon extended to gold prices.
EghtesadOnline: If anyone is benefiting from the coronavirus pandemic, it’s gold investors. Gold prices have soared over the last several months, with the metal up 13.74% year-to-date compared with a 12% decline in the S&P 500. Some analysts believe the price could hit $3,000 in as little as 18 months.
EghtesadOnline: Apparently influenced by bearish trends in the local currency market, gold prices too are of the descending order in Tehran at a time when the precious metal is shining in the global market.
EghtesadOnline: Amid the upbeat in the Tehran stock market, gold and currency closed the week bullish despite decline in international gold prices.
EghtesadOnline: The benchmark Bahar Azadi Gold Coin that traded at 52.50 million rials ($375) in Tehran during the week, lost more than 7% by Thursday's market close and fetched 48.40 million rials ($345), according to the head of Iran’s Specialized Gold and Jewelry Commission at the Iran Chamber of Guilds.
EghtesadOnline: Currency rates and gold prices continued their steady rise in Tehran amid a bull run in the stock market. On Monday the US dollar climbed above the resistance level of 140,000 rials for the first time in the current calendar year that began on March 21.
EghtesadOnline: Despite an uptick in gold prices in international markets on Monday, the yellow metal stayed almost unchanged in Tehran due largely to falling currency rates.
EghtesadOnline: As stability in the foreign exchange market takes hold, gold prices are also following suit. The benchmark gold coin market dropped again on Tuesday and fetched around 33 million rial ($335), down from 34 million rials a day earlier.