Iran Mercantile Exchange to hold 154th gold bullion auction

The Iran Mercantile Exchange has announced its 154th gold bullion auction, scheduled to take place on Tuesday, August 25 (3 Shahrivar), from 2:00 PM to 5:00 PM.

To participate, applicants must deposit a security amount of 50 billion Rials (equivalent to 5 billion Tomans) per piece of bullion. The deadline for this deposit is midnight on Monday, August 24 (2 Shahrivar).

Eligible participants are restricted to four specific economic groups: wholesale gold bullion sellers, gold manufacturers and producers, melted gold retailers, and online platforms for melted gold and jewelry. Each participant is subject to a maximum purchase limit of 25 bullion pieces per calendar week.

Transaction fees are set at 20 million Rials for each party, totaling 40 million Rials per transaction. All trades must be conducted in person and via cash. The base price for the bullion will be announced by the supplier on the day of the auction.