Tehran, Iran, April 26
Trend:
The Head of Gold and Jewelry Trade Union explained the future of the gold and coin market and options for investment in this market commenting on Stock Market's unprecedented growth in recent days.
"The stock market is flourishing because of the fluctuation and of disadvantages of other markets. The growing trend in the stock market is showing confidence of the people in this market,” Mohammad Kashti Aray told Trend.
“In the meantime, the gold and coin market is also attractive to many people,” he said. “It means that those who are not professional in this sphere may want to enter the market and this may affect it. "
In his words, people should make their decision based on economic information they have. "I do not offer any recommendations," Kashti Aray said answering the question about whether he would recommend people to invest their money in gold market instead of investing in the stock market.
Speaking about future trends in the gold and coin market, he said, "The global part of the gold market is the only part that is predictable. World gold mining has fallen by 5 percent, which can affect the global demands. In the meantime, the problem of converting foreign exchange reserves into gold causes a rise in the demand for it in Iran,” he said.