Gold trade in Iran amounts to 300 tons annually
Baku, Azerbaijan, Feb. 7
By Fatih Karimov - Trend: Gold trade in Iran amounts to 300 metric tons annually.
Ebadollah Mohammadvali, Chairman of Iran's gold and jewelry producers and exporters union, said some 60 percent of the gold which is traded in the market is produced domestically, Iran's ISNA news agency reported on Feb. 7.
Iran is currently exporting gold to Turkey and the Gulf states, he added.
Some 50,000 industrial units in Iran are manufacturing gold products, he noted.
The gold reserve of the Central Bank of Iran is equal to 95 metric tons, according to latest available official statistics until mid-2013.
Head of the Geological Survey of Iran Behrouz Borna said in May that Iran's gold reserve is estimated at over 340 metric tons, with 2.5 metric tons production capacity. Iran also started a study of the Zarshouran gold mine, discovered earlier in the north-western region in order to double the gold production capacity in the near future.