World Gold Council: Purchase of Gold Coins and Bullion by Iranians Has Jumped 51%

The World Gold Council reports that the purchase of coins and gold bars by Iranians has surged by 51 percent.

In its new quarterly report, the World Gold Council has noted a significant jump in the purchase of coins and gold bars by Iranians in the first half of the current year, while stating that the purchase of gold jewelry by Iranian citizens has decreased.

According to this report, published on Tuesday, August 1st, on the website of this international body, Iranian citizens purchased 252 tons of coins and gold bars during the mentioned period, which shows a 51 percent increase compared to the same period last year.

In contrast, the purchase of gold jewelry in Iran during the mentioned period has dropped by nearly 12 percent, reaching 137 tons.

Unlike jewelry, coins and bars are more often used for investment and converting rial assets to preserve their value.

The World Gold Council has also attributed the significant surge in the purchase of coins and bars among Iranians to currency fluctuations and the decline in gold jewelry purchases to the worsening economic situation of the people.