The Iran Project

Gold prices fall in Iran free market

By The Journal of Turkish Weekly

Gold prices seem to be falling in Iranian market due to the low demand, Iranian head of Gold and ‎Jewelry Union said.

The price of gold coins fell considerably in Iran free market in the past few days, the ISNA ‎News Agency quoted Mohammad Khastiaray as saying.‎

According to Kashtiaray each Azadi gold coin is now being sold at the price of 11.58 ‎million rials in the free market.‎
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Each ounce of gold was priced at $1713 in international markets on Saturday.

US dollar and Euro were also traded at the price of 24,880 and 31,710 rials, respectively on Saturday.

In early October, gold prices rallied to nearly $1,800 an ounce after the US Federal Reserve announced new monetary stimulus measures, which tend to help gold by fuelling fears of inflation and maintaining pressure on interest rates.

 

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