Title: Global Economic Shifts Drive Upward Trend in Iran’s Gold and Coin Markets
Tehran Market Responds to International Dynamics
A significant upward trend is currently defining Iran’s gold and coin markets, driven by a combination of rising international prices and domestic economic factors. This surge reflects a broader pattern of investors seeking stable assets amidst global financial fluctuations.
International Catalyst
The primary driver for today’s market activity is the performance of gold on the global stage. The international price per ounce saw a notable increase of $52.98, reaching $4,187 and marking a 1.28% growth. This positive momentum in global markets has had a direct and immediate impact on domestic prices within Iran.
Domestic Market Reaction
In response to the international upswing, the Tehran gold benchmark experienced a substantial rise of 985,455 Tomans, settling at 47,535,000 Tomans—a 2.12% increase. This growth cascaded through the local market:
- 18-carat gold rose by 227,445 Tomans to 10,973,500 Tomans.
- 24-carat gold increased by 302,712 Tomans to 14,629,000 Tomans.
Coin Market Follows Suit
The coin market mirrored this bullish trend, with all categories recording gains. The trading volume also saw a noticeable increase, indicating an influx of new capital into this sector.
- Old design Emami coins led the gains, rising by 2.27% to 109,400,000 Tomans.
- New design Emami coins increased by 1.43% to 114,100,000 Tomans.
- Fractional coins, including the half, quarter, and one-gram coins, also posted modest gains, all closing higher for the day.
Analysis and Outlook
Market analysts attribute this widespread growth to investors moving their assets towards traditional safe havens like gold and coins. This is a common response to international economic variables, including currency fluctuations and inflationary concerns.
Looking ahead, the current upward trajectory is expected to continue, albeit potentially at a more moderate pace. Predictions suggest the global price of gold will fluctuate between $4,190 and $4,210. While a minor correction is possible following today’s significant growth, the overall positive trend is forecasted to persist. Key factors that will influence tomorrow’s market include statements from central banks, currency rate volatility, and regional political developments.
