Gold Coin Certificates in the Offing

EghtesadOnline: The Central Bank of Iran is preparing the gold market to issue bond certificates for the pre-purchase of gold coins in the capital market, the secretary-general of the monetary regulator has announced.

News ID: ۷۴۵۴۶۰

17 June 2018

“In addition to liquidizing gold coin presale receipts, these bonds will help balance and stabilize the gold market,” Mahmoud Ahmadi was also quoted as saying by the CBI website. The scheme allows investors in CBI’s gold coin presale scheme to change their presales receipts to “gold coin bonds with proportionate maturity periods”, which boast the security requirements and are exchangeable in the capital market. Gold coins have been hitting new highs in the past few days with the benchmark Emami coin exceeding 25 million rials ($595). The coin has since lost some of its value and was priced at 23.86 million rials ($568) on Saturday, Financial Tribune reported.