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Significant Surge in the Purchase of Coins and Gold Bars in Iran

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Significant Surge in the Purchase of Coins and Gold Bars in Iran

Significant Surge in Gold Coin and Bullion Purchases in Iran

The World Gold Council, in its latest quarterly report, announced a 38% surge in the purchase of gold coins and bullion by Iranian citizens in the first quarter of the current year.

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Significant Surge in Gold Coin and Bullion Purchases in IranEnglish

According to this report, Iranians purchased approximately 12,900 kilograms of gold coins and bullion in the first quarter of 2023, which is the highest figure since the fourth quarter of 2018.

Last winter, the dollar rate soared from 40,000 tomans to a historic high of about 60,000 tomans, but it slightly declined in the second half of March, reaching around 54,000 tomans.

It seems that the rapid decline in the value of the national currency has prompted Iranian citizens to turn to the gold coin and bullion market to preserve their rial assets.

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