Gold prices to in Iran rise in future - official
Tehran, Iran, Oct.10
Gold prices are expected to rise in Iran in the future, the head of the Union of Manufacturers and Exporters of Gold, Jewelry, Silver and Precious Stones, Abdullah Mohammad Vali told Trend.
"But the programs, despite the positive points, had a short credit period, and if today we see problems in the gold or currency market, it is rooted in our lack of performance," he said.
It should be noted that to strengthen the national currency, Iran needs to strengthen the three components of production, employment and exports, while appropriate measures have not been taken, he added.
" When the performance is inappropriate, we cannot be resistant to any breeze,” he said. “The dominance of other currencies on our national currency is rooted in our performance and mismanagement.”
Regarding the future of gold, he added that due to increased mining costs, a rise is expected in the price of gold in the future. "In order to equate the domestic and global prices of gold, we are waiting for central bank`s next step."