Gold Coin Market Sees Downturn: Analysts Forecast Continued Decline
The Iranian gold coin market experienced a broad decline today, with prices falling across all major coin types. This downward trend is anticipated to continue into the next trading session, according to market analysts.
Today’s Market Performance
In Thursday’s trading, the market closed with significant losses. The price of the old-design Azadi coin decreased by 1.3 million tomans, settling at 86.7 million tomans, marking a 1.48% drop from the previous day. Similarly, the new-design Emami coin fell by 1.4 million tomans to 92.4 million tomans, reflecting a 1.49% decline.
The smaller denominations followed suit. The half-gram coin saw a reduction of 50,000 tomans, reaching 48.5 million tomans (a 0.102% change). The quarter-gram coin dropped by 200,000 tomans to 28.4 million tomans, a 0.7% decrease. The one-gram coin also fell by 100,000 tomans, closing at 15.5 million tomans, which equates to a 0.64% loss for the day.
Outlook for Friday’s Trading
Based on an analysis of today’s market dynamics, economic reporters project that the downward trajectory in gold coin prices is likely to persist on Friday. Forecasts suggest the old-design coin could test the 86 million toman range, while the new-design coin may fluctuate near 92 million tomans.
The half-gram coin is expected to trade around 48 million tomans, with the quarter-gram coin hovering near 28 million tomans. The one-gram coin may see levels close to 15.4 million tomans.
This forecast is contingent upon the stability of other key market factors. Analysts caution that any shift in broader macroeconomic indicators could alter this predicted course and impact market trends.
