Gold Coin Hits 3-Week Low

Bahar Azadi, the benchmark gold coin, changed hands for 11,970,000 rials ($307) in Tehran’s gold market on Thursday, losing another 100,000 rials ($2.56) compared to Wednesday’s close. The bearish market of gold coin got more intense about a week ago, when the Bahar Azadi coin was trading for 12,370,000 rials ($317) on September 12 but lost 400,000 rials of its value in just a few days. However, this downward trend is happening while the gold market experienced an unprecedented bull run during the two weeks to September 3, which pushed the value of the precious metal in Tehran’s market to four-year high, according to Financial Tribune.