Gold price rises in Iran amidst Coronavirus outbreak
Price of gold in Iran has increased due to Coronavirus outbreak, member of Iran's Gold, Jewelry, Silver and Precious Stones Producers and Exporters Association Abdollah Mohamad Vali told Trend.
"Many countries have moved toward purchase of gold after the new year and purchases in past two months have increased," he said.
"Another reason for rise of gold price is the exploration of the mines, which has improved," he said.
"Gold is a strong liquidity in the world and storing it create security for people and governments," he said.
"During the past years our country was dependent on oil sale and ignored production and exploring gold mines but the issue should be noticed after the increase of sanctions and devaluation of natural currency and need to create jobs and raise export," he said.
"The increase of gold prices after the Coronavirus spread in Iran triggered psychological pressure. Currently the prices have grown and purchasing power has decreased since people prefer to stay indoors due to the outbreak," Vali said.
Iran is one of the recent countries, affected by the rapidly-spreading coronavirus. According to recent reports from the Iranian officials, over 130 people have been infected, 19 people have already died.
The country continues to apply strict measures to contain the further spread.
Reportedly, the disease was brought to Iran by a businessman from Iran's Qom city, who went on a business trip to China, despite official warnings. The man died later from the disease.
The disease in Iran has already spread to at least fifteen Iranian provinces.
Following the reports of coronavirus spread in the Islamic Republic, several countries have taken measures, including closing borders and banning flights.
Meanwhile, the WHO (World Health Organization) has offered its help to Iran, providing certain medicine to the infected.