Iran Launches New Platform for Gold Coin Buyback and Pre-Sale
TEHRAN – The Iran Mercantile Exchange (IME) has announced the imminent launch of a new platform dedicated to the buyback and pre-sale of gold coins. This initiative is designed to facilitate transactions and reduce risk for investors in the national market.
A Dual-Purpose System for Market Stability
The newly developed system introduces two key mechanisms to enhance market flexibility and security.
Firstly, it provides a buyback option for current purchasers. Individuals who successfully bought coins during the pre-sale on September 8 but, for any reason, no longer wish to receive the physical delivery on December 21 can now offer their coins for repurchase. This can be done up to ten business days before the delivery date. The Central Bank of Iran, upon approval, will buy back the coins at the proposed price. This mechanism is a safeguard, protecting buyers from potential financial loss due to market fluctuations.
Secondly, the platform creates a new opportunity for applicants who were previously unsuccessful in purchasing coins or who wish to buy more. These individuals can register their desired number of coins and their proposed bid price on the new system. The Central Bank will then review these orders and proceed with a subsequent pre-sale.
Enhanced Accessibility and Risk Management
Asghar Balsini, spokesperson for the Iran Mercantile Exchange, stated that this plan directly addresses the concerns of citizens who were unable to participate in previous sales sessions. He emphasized that the platform offers a more reliable and secure instrument compared to the spot market, allowing participants to benefit from discounted prices and effectively manage the risks associated with price volatility.
This move is seen as a significant step in streamlining Iran’s commodities market and providing citizens with more robust and accessible investment tools.
