According to the report of the Gold and Currency Service of Economy Online, the gold and coin market was accompanied by a relative decrease in prices on Monday, June 18, 1405. While the increase in political tensions between Iran and Israel usually increases the demand for gold as a safe asset, this time the market showed a different behavior and the prices entered the corrective phase. It seems that the traders’ caution and the uncertain political and economic environment have caused many market participants to be in a waiting position for now.
The latest price of gold
- 18 carat gold / 750: 18,065,000 Tomans (daily range: 17,970,600 to 18,307,400)
- 24 carat gold: 24,086,400 Tomans (daily range: 23,960,500 to 24,409,600)
- Second-hand gold: 17,824,133 Tomans (daily range: 17,730,974 to 18,063,294)
- Gold shekel: 78,254,000 Tomans (daily range: 77,845,000 to 79,105,000)
In the global market, each ounce of gold traded at $4,340.12 and fluctuated between $4,271.38 and $4,352.53.
The latest coin price
- Imami coin: 182,990,000 Tomans (daily range: 181,980,000 to 184,010,000)
- Bahar Azadi coin: 177,975,000 Tomans (daily range: 176,980,000 to 179,020,000)
- Half coin: 93,500,000 Tomans (daily range: 93,500,000 to 94,000,000)
- Quarter coin: 53,500,000 Tomans (daily range: 53,500,000 to 54,000,000)
- Warm coin: 28,000,000 Tomans (daily range: 28,000,000 to 28,000,000)
Gold price forecast for Tuesday, June 19, 1405
Market analysts believe that the current market environment is more influenced by the doubt and caution of traders. For this reason, in the short term, the price path of gold and coins will depend on several important factors; including the trend of the dollar rate in the free market, political developments in the region and the direction of the global gold price.
In the current situation, even despite the relative growth of the dollar, the gold market has not shown an upward reaction, and this shows that market participants are waiting for the conditions to become clearer. If demand strengthens a bit in Tuesday’s trading and the dollar remains at current levels or higher, there is a possibility of a slow price recovery.
In this scenario, 18 carat gold can again approach the range of 18 million and 500 thousand tomans and even fall to today’s daily ceiling. The Imami coin may also fluctuate in the range of 183 to 185 million tomans.
On the other hand, if the selling pressure continues or the global gold price declines further, the domestic market may still remain in the correction phase. In this case, 18-carat gold can retreat up to 17,900,000 Tomans and the Imami coin can return to around 182,000,000 Tomans.
In general, the gold and coin market is expected to fluctuate more in the current ranges in Tuesday’s trading, and the main direction of the market will continue to depend on the dollar trend and political news.
