Gold coin prices break new record in Iran

Iran Materials 22 January 2012 13:48 (UTC +04:00)

Azerbaijan, Baku, Jan. 22 /Trend M. Moezzi/

The price of a whole gold coin reserves reached 9 million rials ($798) in Iran's markets, setting a new record on Saturday, Mehr news agency reported.

While the price for old-design Bahar Azadi coins, minted by the Central Bank of Iran, started the day at 8.1 million rials ($717), it had gained 900,000 rials ($80) in value by the end of the day.

New design Bahar Azadi coins' were valued at 9 million rials too. It is every rare for both new and old design coins to have the same value.

The new record for gold coin prices is due to recently economic sanctions, they drive people toward the foreign currency and gold coins market.

Official exchange rate on Jan.22 is 11.285 rial/$1