Gold and coin prices rise in Iran amid currency volatility

Gold and coin prices in Iran have experienced significant increases driven by both the global gold ounce price and domestic currency fluctuations. The global gold ounce reached approximately $4,194, contributing to a rise in local market values.

In the domestic market, 18-karat gold has seen price growth, with recent trading values around 26.5 to 26.9 million Tomans per gram. Gold coins have also risen; the new design coin reached 269.5 million Tomans, while the old design coin reached 261.5 million Tomans. The gold coin bubble has increased to 10.015 million Tomans.

Market analysts note that while the global ounce is a factor, the Iranian gold market is highly sensitive to the free market exchange rate of the US Dollar. Short-term domestic price trends are primarily determined by the movement of the Dollar. Due to ongoing volatility, buyer hesitation has led to a decrease in demand and minimal market transactions.