Gold, dollar prices fall in Iran

Iran Materials 2 May 2012 17:41 (UTC +04:00)

Azerbaijan, Baku, May 2/Trend M. Moezzi

The gold and foreign currency prices have continued to slide on Iran's markets today.

Old design gold coins cost $555 (USD) on the free market while new design coins fetched $545, the Iranian Students' News Agency (ISNA) reports. The Central Bank of Iran mints and sells the coins.

One gram of 18 karat gold was being sold for about $56 today.
Yesterday, old design coins cost nearly $559 and new design coins were sold for $550.

The U.S. dollar was selling for 17,100 to 17,200 rials. Although that price is still higher than the government-set rate of 12,260 rials, it marks a decline from the 20,000 rial to the dollar rate at the start of the year.