Gold coin prices fall 30% in 1 year

Financial Tribune – Gold coin prices fell 30% in the past 12 months from 55 million rials last October to around 40 million rials now.

Mohammad Keshti-Aray, president of the Specialized Gold and Jewelry Commission at the Iran Chamber of Guilds says stagnation in the gold coin market in the mourning months (Moharram and Safar) is expected to continue at least for one month.

“Demand for gold coins sharply drops, due to the annual rituals. This is while some other markets were more attractive for investors,” IRNA quoted him as saying on Tuesday.