Gold and Coin Markets Witness Sharp Decline in Dramatic Trading Session
Market Overview: A Significant Downturn
Financial markets on October 29 were marked by a notable and widespread decline in the prices of gold and coins. Analysis of the market trends indicates that gold has entered the range of 10,352,000 Tomans per gram, while the standard ‘Emami’ coin is now trading within the range of 109 million Tomans, signaling a substantial market shift.
Gold Prices in Detail
As the market opened on Wednesday, October 29, the price of 18-karat gold was recorded at 10,352,000 Tomans per gram. This figure represents a significant drop of 192,000 Tomans over the past 24 hours.
Further illustrating the downward trend, each Mithqal of 18-karat gold fell to 44,835,000 Tomans, an 844,000 Toman decrease. The price for 24-karat gold was set at approximately 13,803,000 Tomans per gram, down by 256,000 Tomans. Similarly, the price for second-hand gold saw a decline, trading at 10,214,000 Tomans per gram after a drop of 189,000 Tomans.
Coins Experience a Steep Fall
The coin market paralleled this downward trajectory, with the key ‘Emami’ coin falling below the 110 million Toman threshold to settle within the 109 million Toman range.
Specifically, the ‘Emami’ coin was observed in the market at a price of 109,685,000 Tomans, having lost 1,820,000 Tomans of its value in the last 24-hour period. The ‘Bahar Azadi’ coin also experienced a sharp decline, with its price falling to 103,040,000 Tomans, a decrease of 2,440,000 Tomans.
The downturn affected smaller denominations as well. The half-coin was priced at 56,910,000 Tomans (down 1,180,000 Tomans), the quarter-coin at 32,800,000 Tomans (down 310,000 Tomans), and the one-gram coin was traded at 16,400,000 Tomans, reflecting a 100,000 Toman decrease.