Title: Iran Exchange Center Announces Major Gold Bullion Auction for October 5th
Tehran – The Iran Mercantile Exchange (IME) has officially opened registration for its 128th gold bullion auction, scheduled for October 5th. This initiative provides a significant opportunity for qualified buyers to acquire physical gold directly through a state-regulated platform.
Auction Details and Participation
Prospective participants must register their intent by 24:00 on Saturday, October 3rd. To be eligible for the bidding process, a substantial security deposit of 10 billion Rials (equivalent to 1 billion Tomans) is required per gold ingot. This measure ensures the participation of serious and committed investors in the auction.
Product Specifications
Each gold ingot available at the auction will weigh precisely one kilogram. The bullion is certified to meet a high purity standard, with a minimum fineness of 995 parts per thousand (99.5% pure gold), guaranteeing the quality and value of the asset for purchasers.
Transparent Trading Process
The IME has confirmed that all transactions will be conducted through a transparent, in-person auction format. Furthermore, the sales will be on a strict cash basis, ensuring a clear and immediate settlement process for all successful bidders.
This structured auction is part of the IME’s regular market operations, facilitating a regulated and official channel for gold trading within the national economy.