Gold coin delivery for January stopped on Tehran Market

IRNA – Tehran Commodity Exchange will stop selling or buying gold coins for future delivery as of Sunday.

The Commodity Exchange announced that the trade will be disrupted until further notice.

The gold trade halt by the Commodity Exchange is aimed to check sharp hike in the prices.

Each Bahar-e Azadi gold coin was sold beyond 709.56 dollars on the market on Saturday.

Consequently, each gold coin for January 2019 delivery was sold up to 858.34 dollars at Tehran Commodity Exchange.

Gold and gold coin businesspersons believe the price soaring on the market is partly due to imminence of the first 90-day deadline of the US Treasury to impose certain tyrannical sanctions. The global increase in gold prices cannot be overlooked though.

On Friday, the US dollar depreciation against other hard currencies led to increase in gold prices on the world markets. Gold prices settled higher on the global markets on Friday. August gold rose $7.10, or 0.6%, to settle at $1,231.10 an ounce.

Each gram of the 18 alloy crude gold was sold for 56.17 dollars, up 1.11 dollars.