According to the report of the currency and gold service of Economy Online, the gold market was accompanied by a downward trend in trading today, Tuesday, and the prices were affected by the decrease in the exchange rate and the relatively positive atmosphere caused by the political news. The decrease in demand in the market also increased the selling pressure in transactions and many buyers prefer to enter the market more cautiously until the economic and political conditions become clearer.
In fact, a significant part of the market participants are currently evaluating the short-term outlook of the market. On the one hand, the drop in the dollar rate in the free market has put downward pressure on the price of gold, and on the other hand, some traders are worried about the sudden change in the market trend in case of a change in the political environment or the return of currency fluctuations.
The latest price of gold and coins today
In today’s transactions of the gold and coin market, the prices were traded in a cautious atmosphere and affected by the decrease in demand and exchange rate fluctuations. Based on the latest prices, each gram of 18-karat gold was traded at the rate of 15,652,800 tomans, and 24-karat gold reached 20,870,200 tomans. Also, second-hand gold was registered at the price of 15 million 444 thousand 135 tomans, and each shekel of gold was priced at 67 million 797 thousand tomans in the domestic market.
In the coin market, the price trend was accompanied by limited fluctuations. Imami coin was traded at the level of 157 million 995 thousand tomans and Bahar Azadi coin reached 155 million 375 thousand tomans. Also, a half coin was traded for 83 million tomans, a quarter coin for 44 million and 160 thousand tomans, and a gram coin for about 25 million tomans.
Gold price forecast for tomorrow, Wednesday, June 27
Gold market experts believe that the direction of price movement in tomorrow’s transactions will largely depend on the trend of the dollar rate and the news environment surrounding political developments. If the exchange rate remains in lower ranges and the positive political atmosphere continues, selling pressure in the gold market is likely to continue and prices will trade with limited volatility at current levels or slightly lower. In this situation, the Imami coin can fluctuate in the range of 157 to 160 million tomans, and 18 carat gold will remain in the channel of 15 million tomans.
On the other hand, if the intensity of positive news decreases or the currency market faces a relative increase, the downward trend of the market may stop and the prices will face a limited return. In such a scenario, there is a possibility that the Imami coin will move towards the range of 162 to 164 million Tomans, and 18 carat gold can also approach the channel of 16 million Tomans.
Is it time to buy gold?
In response to this question, it should be said that the gold market is currently in a stage of caution and expectation. The recent drop in prices may seem attractive to some buyers with a long-term investment perspective, but in the short term, variables such as the dollar rate and political developments can still change the direction of the market.
For this reason, many market participants advise short-term buyers to act more cautiously until the market trend becomes clearer. On the other hand, people who look at the market with a medium-term and long-term view may consider temporary price drops as an opportunity to gradually buy; However, they should still consider the risk of short-term fluctuations.
