Gold coin flexes its muscle

Financial Tribune – Gold coin prices set a new record climbing 8% from the Persian New Year holidays in the Tehran market — from 60.28 million rials ($375) on March 18 to 65.05 million rials on Sunday. The rise was despite the fact that the gold market remains closed due to the COVID-19 crisis.

Observers say gold prices have surged mostly under influence of rising prices of the precious metal in international markets. Foreign exchange rates are also considered as the leading factor impacting gold prices in Iran, though the impact was meager in the past two weeks.