Iran Exchange Announces 132nd Gold Bullion Auction: A Guide for Eligible Entities
Tehran – The Iran Mercantile Exchange (IME) has officially announced it will host its 132nd gold bullion auction this coming Sunday. This structured market mechanism provides a regulated platform for the distribution of gold within the national economy, supporting key industrial and commercial sectors.
Auction Details and Participation
The auction session is scheduled to take place from 14:00 to 17:00 local time. To participate, eligible buyers must deposit a guarantee payment of 10 billion Rials (equivalent to one billion Tomans) for each gold bullion piece. This deposit must be completed by 24:00 on the preceding Saturday.
Who Can Bid?
Participation is strictly limited to qualified entities as per the nation’s regulatory framework. The primary eligible groups are:
- Major gold bullion sellers.
- Active gold jewelry manufacturers and producers.
- Retail sellers of melted gold.
All prospective bidders must possess a valid and active business license, issued by the relevant guilds and registered on the national permits portal.
Furthermore, agent banks, upon receiving explicit approval from the Central Bank of Iran for each specific auction, are also permitted to participate as buyers. The Central Bank determines the purchase ceiling for these banks on a per-session basis.
Documentation Requirements
The IME has outlined a clear set of required documents for participation:
- New Applicants: Must submit the original application form (available on the official IME website, www.ice.ir), national ID card, confidentiality undertaking, unique business license identifier, a verifiable power of attorney, and for legal entities, the latest articles of association and official gazette notice.
- Returning Applicants: Who have previously participated in at least one auction, are required to submit an updated application (if details have changed), a new confidentiality undertaking (if applicable), and their national ID card.
Auction Structure and Purchase Limits
The auction will be conducted in-person through two distinct methods:
- Retail Auction: Eligible participants (the three primary groups) can purchase a minimum of one and a maximum of five individual one-kilogram gold bullion pieces per session. The weekly purchase cap for the retail auction is five pieces.
- Wholesale Auction: The same groups can purchase a minimum of one and a maximum of four standard packages. Each package contains five one-kilogram bullion pieces with a purity of 995 per thousand.
The overall weekly purchase limit for any single buyer is 25 pieces of bullion, combining both retail and wholesale purchases. A transaction fee of 0.2% of the trade value will be applied to each party involved in a successful bid. All transactions will be settled in cash.