Gold Prices See Significant Correction: Coins Retreat into 112 Million Toman Range
Market Overview: A Day of Contrasts
In today’s trading session in Tehran’s market, the price of the new design Bahar Azadi gold coin experienced a notable decline, falling by one million Tomans to settle at 112 million and 400 thousand Tomans. This downward trend was mirrored in other coin categories, with the old design coin decreasing by one million and 600 thousand Tomans to 105 million and 900 thousand Tomans, and the half-coin dropping by 400 thousand Tomans to enter the 58 million Toman range.
Mixed Movements Across Precious Metals
The market dynamics presented a mixed picture. While most gold coins saw a decrease, the quarter-coin and the one-gram coin each registered a price increase of 100 thousand Tomans. They were traded at 33 million and 600 thousand Tomans and 16 million and 700 thousand Tomans, respectively. Furthermore, the global gold market showed a different trajectory, with a troy ounce of gold rising by $8.35 to be offered at $4,113.
Domestic Gold and Currency Rates
The price of one gram of 18-karat gold in the Tehran market also adjusted, declining by 77,634 Tomans to stand at 10 million, 713 thousand, and 800 Tomans. Concurrently, the Iran Mercantile Exchange released the following official rates for major foreign currencies (all rates in Tomans):
| Currency | Banknote | Transfer |
|---|---|---|
| US Dollar | 71,658 | 69,571 |
| Euro | 83,305 | 80,879 |
| UAE Dirham | 19,512 | 18,943 |
| Chinese Yuan | 10,061 | 9,768 |
| Japanese Yen (per 100) | 46,886 | 45,521 |
| Russian Ruble | 897 | 871 |
| South Korean Won (per 1000) | 49,814 | 48,363 |
| Indian Rupee | 815 | 791 |
These market adjustments reflect the dynamic interplay of domestic and international economic factors influencing precious metal and foreign exchange valuations.