The gold and coin market has now reached relative stability after the price reduction since the beginning of the week; The head of Tehran Gold Union explained the three main factors of this drop.
The head of the Tehran Gold Association stated that the drop in currency prices in the informal market, the fluctuations of the global gold market, and the release of political and economic news were the three main factors of the price drop since the beginning of the week, and said: “Currently, we are witnessing good relative stability in the market, and people can conduct their transactions according to their needs and conditions.”
Nader Bazarafshan said about the situation of the gold and coin market: since the beginning of this week, the gold and coin market has experienced a downward trend, and this price decrease has been influenced by three main factors, including the fluctuations and changes in the price of gold in the world markets, the decrease in the exchange rate in the informal market, as well as the publication of political and economic news.
He added: the combination of these factors has caused the price of gold and coins to decrease in the domestic market; So that the price of coins entered the channel 251 million tomans and each gram of 18 carat gold entered the channel 25 million tomans.
Referring to the direct effect of the exchange rate on the gold market, the head of the Tehran Gold Manufacturers and Sellers Union stated: The drop in the dollar rate in the open market is one of the important factors in the drop in the price of gold and coins. Because the currency price has a direct effect on the price of gold in the domestic market, and any decrease or increase in the exchange rate can also affect the gold and coin market.
Bazarafshan continued: In the current situation, the market is not facing any particular inflammation and follows a relatively stable trend. Currently, we are witnessing good relative stability in the market and people can do their transactions according to their needs and conditions.
In the end, he pointed out that the continuation of the current state of the market depends on various factors, including developments in the global gold market, exchange rate trends, news and political and economic developments, and these variables will continue to play a decisive role in the path of gold and coin prices.
