Iran's gold coin market stabilized
Azerbaijan , Baku, June14 /Trend/
The price of Iranian gold coin Bahar-e Azadi has stabilized in recent days with no change of prices on independent market and Iranian banks, Fars News Agency reported.
Bahar-e Azadi Coin is an Iranian limited circulation minted gold coin offered by the Central Bank of Iran (CBI).
The gold prices on international market had little increase while gold prices increased by 0.4 percent to $1,521.57 per ounce.
Gold sold at $38 per gram on domestic market, while gold coin prices had no significant changes.
For the fourth day, the Central Bank of Iran continued to announce gold coin prices unchanged at $383.
Increase in valued added tax (VAT) rate for coin has led to confusion on the market last week, while the USD rate is affecting the prices and demand is still high.
The Iranian official announced earlier that the CBI would put additional dollars for market to reduce rates.
The CBI cut of foreign currency supply has resulted in increase of dollar rate and gold coin prices on the market.