Chairman of the Iran Gold and Jewelry Union: Iran's gold market remains stable, with limited volatility expected ahead

Golden Ten Data, June 20 – According to a report by the Islamic Republic News Agency (IRNA), Nader, Chairman of the Iran Gold and Jewelry Union, stated in an interview: “The global gold market was volatile last week, but contrary to expectations, when international gold prices rose, the domestic gold market price in Iran did not increase. We even saw a relative decline in domestic gold prices. This was influenced by multiple factors. Part of the reason was the decline in the domestic exchange rate, and another key factor was positive economic news, especially the agreements recently reached. These factors largely offset the impact of rising global gold prices on the domestic market. Currently, domestic gold prices are within a relatively stable range. Now we need to start observing global market trends, domestic exchange rate conditions, supply and demand dynamics, and developments in the political situation. All of these factors will influence the degree of volatility next week and may determine the direction of the market. In my view, natural fluctuations of 1% to 3% may occur, which is normal for the gold market, but under current circumstances, it is unlikely that there will be a significant price decrease or increase.”