Gold Drops in Tehran Market

EghtesadOnline: The Bahar Azadi Gold Coin sold for 10.95 million rials ($343) Saturday in Tehran, marking 2.1% drop or 230,000 rials lower compared with Thursday’s close.

News ID: ۷۷۱۲۶۸

13 November 2016

The benchmark coin had reached 11.28 million rials ($354.3) on Wednesday following Donald Trump’s victory in the US presidential election. According to Tehran Gold and Jewelry Union, Emami Gold Coin dropped by 168,000 rials, or 1.52% with its price standing at 11.06 million rials ($356.8). Half Azadi and Quarter Bahar Azadi Gold Coins recorded 1.43% and 0.67% drop in prices, respectively. The US dollar was traded for 36,580 rials on Saturday, up by less than a percent. The British pound exchanged hands at 46,130 rials up 1.1% and the euro experienced 1.25% drop fetching 39,930 rials.