Gold and Coin Markets Navigate Volatile Waters as Prices Shift in Early Azar
A recent analytical report on Iran’s domestic gold and coin markets has detailed a period of notable price adjustments as the markets entered the first week of the Iranian month of Azar. The figures point to a general downward trend across key benchmarks, capturing the attention of investors and analysts.
Gold Prices Experience Weekly Decline
The market for gold commenced the week with observable decreases. The price for one gram of 18-karate gold was reported at approximately 11,349,000 tomans, reflecting a drop of 249,000 tomans over the preceding week. This downward movement was consistent across other gold metrics, with one Mithqal of 18-karate gold and 24-karate gold also registering significant weekly losses. The price of second-hand gold similarly followed this trend, confirming a broader cooling in the gold sector.
Coin Market Follows Suit
Parallel to the gold market, the coin sector also witnessed price corrections. The benchmark Emami coin was traded at around 117,505,000 tomans, having experienced a decrease of 2 million tomans over the past week. Other popular coins, including the Bahar Azadi coin, the half-coin, and the quarter-coin, all saw their values adjust downward by varying amounts. The gram coin, however, was noted at a stable price of 17 million tomans.
This period of recalibration in the precious metals market is being closely monitored, as such fluctuations are a normal part of market dynamics and are influenced by a complex set of domestic and international economic factors.