Digital Tether Dips Below 100,000 Tomans as Gold and Forex Markets Cool
A notable shift is occurring in Iran’s financial markets, with key indicators moving into a corrective phase. The price of Tether (USDT), a popular digital dollar proxy, has retreated after recent highs, signaling a potential stabilization in currency pressures.
Key Digital Currency Retreats
After fluctuating above the 100,000 Tomans threshold in recent days, the Tether rate experienced a noticeable decline. Reports indicate its value has dropped to 99,455 Tomans. Market analysts cite a parallel decrease in the exchange rates at the physical Forex centers in Tehran and Herat, which have settled in the mid-range of the 100,000 Tomans channel, as the primary driver behind this digital dollar correction.
Precious Metals Follow Suit
The cooling trend extended to the domestic precious metals market. The price of 18-karat gold per gram fell to 8,697,000 Tomans. Similarly, the market for Emami and Bahar Azadi gold coins witnessed a widespread downturn:
- Bahar Azadi Coin: 87,700,000 Tomans
- Emami Coin: 93,100,000 Tomans
- Half Coin: 48,900,000 Tomans
- Quarter Coin: 28,600,000 Tomans
Global vs. Domestic Dynamics
This domestic softening contrasts with conditions on the international stage. The global price of gold saw a modest increase of $3, reaching $2,349 per ounce, indicating sustained international buying pressure. However, the simultaneous decrease in the domestic exchange rate has effectively neutralized the upward influence of global trends on local gold prices.
Market Drivers and Future Outlook
Some economic actors suggest this corrective phase may be the result of increased currency supply and a calming of the fervent buying sentiment observed in previous days. Market observers note that future price trajectories remain closely tied to broader economic developments, currency injection policies, and the ongoing fluctuations in the global gold price.
