Gold and forex rise to historic levels in Tehran

Financial Tribune – The price of Emami gold coin rallied to an all-time high of 80 million rials ($410) on Sunday to post a 2.55% increase compared to Saturday’s close. Forex rates also continued their mad dash.

Demand for gold coins has increased in recent days, says Ebrahim Mohammad Vali, head of Tehran Gold and Jewelry Union, noting that the increase in gold prices in international markets has also contributed to the rush to buy the safe haven metal.

Emami Gold coin has gained about 33.3% in the past three months, whereas the price had increased by 70% in the past 12 months.