Over 20% of gold at Iran’s market smuggled from abroad
Baku, Azerbaijan, Oct. 24
By Fatih Karimov – Trend
Over 20 percent of gold at Iran's jewelry market are imported illegally from abroad, said Mohammad Keshti Aray, the chairman of the Iran's Jewelry and Gold Sellers Union.
Keshti Aray said that the origin of the smuggled gold is unclear, ILNA news agency reported Oct. 24.
Almost one ton of gold jewelry is traded at Iran's market every day.
Earlier Hossein Pendarvand, a board of directors member of Iran's Gold, Jewelry, Silver and Precious Stones Producers Association said that while gold jewelry import is banned, some 80 percent of the products traded in Iran's gold market came from Turkey, India, the UAE and Thailand illegally.
He expressed regret that Iran has become one of the main markets for smuggled gold jewelry which harms domestic products.
He also said that Iran is among the top five gold and jewelry markets in the world.