IRNA quoted Iran Gold and Jewelry Union chairman Nader saying last week’s
international gold rally did not lift — and in some cases coincided with
declines in — domestic Iranian gold prices. He attributed the disconnect to a
fall in the domestic exchange rate (weaker Iranian rial) and positive economic
news, including a recent agreement, which largely offset global price pressures.
Domestic prices are in a relatively stable range. Near-term drivers to watch, he
said, are global gold trends, the reality, supply-demand and politics
developments; he expects natural 1–3% volatility next week and judges large
moves unlikely.
