Gold and Coin Markets Navigate Political Crosscurrents: A Cautious Outlook for Monday
Market Snapshot: A Day of Divergence
Global and domestic precious metal markets presented a mixed picture at the close of trading. Internationally, the price of gold per ounce saw a marginal increase, settling at $4,017. In contrast, the domestic Tehran market experienced a broad downturn. The benchmark gold price in Iran closed at 46,885,000 Tomans, reflecting a decrease of 0.82 percent. Similarly, 18-carat and 24-carat gold saw declines of 0.82% and 0.83%, respectively.
The coin market mirrored this downward trend, with significant price adjustments across all major types. The “Old Design” coin fell by 2.11% to 107,100,000 Tomans, while the “New Design” coin dropped 1.41% to 112,800,000 Tomans. The most substantial decline was observed in the quarter-coin, which fell by 3.73 percent.
Analysis: The Political and Economic Drivers
Market analysts attribute today’s general price softening to a combination of global and internal factors. The primary influences include a relative strengthening of the US dollar in global markets and a noticeable easing of demand pressure within the domestic market. Furthermore, a period of relative stability in the foreign exchange market and improving inflationary expectations have contributed to this corrective phase. The market’s sensitivity to these underlying economic indicators highlights its role as a barometer for broader financial stability.
Monday Forecast: A Climate of Cautious Anticipation
Looking ahead to Monday’s trading, the forecast suggests a continuation of the current trend, albeit with heightened caution. If the present conditions in global markets hold and no significant new information emerges, the decline in prices is expected to continue at a more gradual pace. However, the market remains on high alert, with its trajectory highly susceptible to shifts in currency values and the evolving political landscape. Investors and observers are advised to monitor these external factors closely, as they will be the key determinants of market direction in the coming days.