According to the report of the Gold and Currency Service of Economy Online, the gold and coin market welcomes transactions on Sunday, June 24, 1405, as new political signals have affected the trading environment. In the latest development, the President of the United States has announced in a message on the Truth Social Network that the agreement between Iran and the United States is going to be signed soon and immediately after that the Strait of Hormuz will be open to all countries.
The release of this news quickly echoed among financial market activists and turned traders’ eyes towards the possibility of reducing geopolitical tensions and changing inflationary expectations. In such a situation, many analysts believe that any progress towards the agreement can put downward pressure on the exchange rate, and this issue will directly affect the gold and coin market.
The price of gold and coins started with a downward trend in trading on Saturday, June 23, 1405, and the selling pressure in the market was maintained during the trading. The decrease of about seven thousand tomans in the dollar rate compared to the final transactions on Thursday was the most important factor in the price drop in the gold market and caused most of the coins to be traded with a significant decrease. At the same time, the situation of the global ounce of gold is still considered one of the determining variables for the short-term path of the market.
The latest price of gold
- 18 carat gold: 17,220,800 Tomans (daily range: 17,197,200 to 17,867,200)
- 24 carat gold: 22,960,800 Tomans (daily range: 22,929,400 to 23,822,600)
- Second-hand gold: 16,991,168 Tomans (daily range: 16,967,935 to 17,628,931)
- Gold shekel: 74,605,000 Tomans (daily range: 74,495,000 to 76,405,000)
- Global gold ounce: $4,219.32 (daily range: 4,213.1 to 4,219.32)
coin price
- Imami coin: 173,395,000 Tomans (daily range: 173,180,000 to 178,110,000)
- Bahar Azadi coin: 170,325,000 Tomans (daily range: 170,110,000 to 172,410,000)
- Half coin: 90,490,000 Tomans (daily range: 90,060,000 to 91,990,000)
- Quarter coin: 49,890,000 Tomans (daily range: 49,630,000 to 50,850,000)
- Warm coin: 27,000,000 Tomans (daily range: 26,000,000 to 28,000,000)
Gold price forecast on Sunday 24 June 1405
According to the news created about the agreement, many analysts believe that the gold market is on the threshold of a critical point. If the trend of positive political news continues and the dollar rate remains on a downward path, there is a possibility of increased selling pressure in the gold and coin market.
In this scenario, 18-karat gold may move towards the bottom of the channel of 17 million tomans and even lower ranges may be tested. Imami coin can also fluctuate in the range of 170 to 173 million tomans in such conditions.
However, the second scenario depends on the reaction of the currency market and the trend of the global gold ounce. If the global price of gold strengthens or the currency market compensates for part of its recent decline, there is a possibility that the downward trend will stop and the prices will partially return.
Overall, the gold market is more sensitive to political news and diplomatic developments than ever before. For this reason, the final outcome of the negotiations and the fate of the agreement could determine the short-term direction of prices and determine whether the market is really on the verge of a significant drop or if these declines were only a temporary correction.
