Gold and coin prices in Tehran enter corrective phase

Gold and coin prices in Tehran have entered a corrective phase following a period of intense price surges and record highs. The decline is attributed to a reduction in speculative demand and a cooling of buyer enthusiasm. Currently, 18-karat gold is trading around 23.17 million tomans per gram, while the Bahar Azadi coin is priced near 232.99 million tomans.

To manage inflationary expectations and control liquidity, the Central Bank of Iran has introduced new intervention tools. This includes the offering of 100,000 Bahar Azadi coins through standard 3-month forward contracts on the commodity exchange, featuring a guaranteed minimum return of 7 percent. Experts suggest that these market-making interventions, combined with a drop in global gold ounce prices and reduced local demand, have slowed the rapid price growth.