The head of the Tehran Gold and Jewelry Union stated in an interview with a gold website that the global gold price fell by $79 to reach $3,287 last week. This decrease in the international gold price, coupled with changes in the currency rate, has resulted in a downward trend in gold and coin prices in Iran. As the month of Muharram approaches, a further decline in demand and a slowdown in the market are expected. He urged the officials at the Tax Affairs Organization to consider the impact of the recent market shutdown, prompted by the ongoing conflicts in the region, and to handle tax filings with compassion and expertise, thereby fostering a more supportive environment for businesses that have faced crises over the past two years.
Bazrafshan reported that the premium on the coins remains unchanged at 9 million and 150 thousand tomans.
Regarding price predictions for the upcoming week, he noted that if the trend of decreasing global gold prices and currency rates continues, there may be further but slight reductions in gold and coin prices. Starting from Saturday, the gold and jewelry market is set to fully reopen, and prices are expected to stabilize.
In the Iranian market, the price of new design coins has dropped by 4 million and 450 thousand tomans, the old design coins by 4 million and 200 thousand tomans, the half coin by 1 million and 200 thousand tomans, the quarter coin by 200 thousand tomans, and the coins issued by the Central Bank by 100 thousand tomans. Moreover, the price of 18-carat gold per gram has decreased by 610 thousand tomans over the past week.
With these adjustments, the market anticipates a gradual recovery as it reopens fully, providing hope for a stabilization in prices and a resurgence in business activity.