Prediction of the price of gold and coins on Wednesday, 22 Mehr; The gold and coin market is on the downward path
The gold and coin market faced selling pressure at the end of trading on Tuesday under the influence of the retreating dollar; Now traders are looking at the behavior of the dollar and the trend of the global ounce for Wednesday, and the path of the market can change between the continuation of the decline or a limited return of prices.
The gold and coin market faced selling pressure at the end of trading on Tuesday under the influence of the retreating dollar; Now traders are looking at the behavior of the dollar and the trend of the global ounce for Wednesday, and the path of the market can change between the continuation of the decline or a limited return of prices.
Sefir Arjan-Economic Group: The gold and coin market on Tuesday 21 Mehr 1405 was accompanied by a decrease in prices. The fall of the dollar and the return of this banknote to the channel of 257 thousand tomans put downward pressure on the domestic market; This happened while the global ounce of gold was in the range of $4183 and was experiencing an upward trend.
Market experts believe that the behavior of the dollar in Wednesday trading can play an important role in determining the direction of gold and coins. If the dollar cannot stabilize in the current range and its decline continues, there is a possibility of continued selling pressure in the gold and coin market.
On the other hand, the stabilization of the dollar in the current range and the continuation of the upward trend of the global ounce can reduce the intensity of the selling pressure and provide the basis for a limited return of prices. However, the stabilization of the upward trend will also depend on the return of demand.
Emami coin was traded at the price of 257 million and 600 thousand tomans at the end of trading on Tuesday. Bahar Azadi coin was also at the level of 252 million Tomans.
The half coin cost 137 million 500 thousand tomans and the quarter coin cost 71 million 800 thousand tomans. The gram coin was also traded for 35 million tomans.
In the meantime, the fall of the dollar caused the Imami coin to retreat from higher levels and the market became more cautious about continuing the upward trend.
Each gram of 18-carat gold reached 25 million and 557 thousand tomans in Tuesday evening trading. 110 million and 710 thousand tomans of gold was traded.
The global ounce of gold, despite its growth up to the range of $4183, could not neutralize the decreasing effect of the dollar in the domestic market. Based on this, if the dollar continues to be under pressure in Wednesday's transactions, there is a possibility that gold and coins will continue to fluctuate; But the stability of the dollar and the continued growth of the ounce can provide the conditions for a limited return of prices.
The gold and coin market was affected by the simultaneous increase of the dollar and the drop of the global ounce in the transactions of Monday, September 23. The decrease of 74 dollars an ounce neutralized the effect of the growth of the dollar and the price of gold retreated. Now traders are looking at the range of 4275 dollars per ounce and 230 thousand tomans for Tuesday's trading.
The gold and coin market continued its downward trend in Monday trading under the influence of the drop in the dollar price; The Imami coin retreated and 18 karat gold was placed in a sensitive price range. Now, traders are looking at the trends of the global dollar and ounce to determine whether the price correction will continue in Tuesday's trading or whether the market will return to the upward path.
The gold and coin market starts trading on Tuesday, October 14, 1405, when the price of the dollar is in the range of 268 thousand tomans and the global ounce is traded above 4150 dollars. Experts believe that the persistence of these two variables at current levels can strengthen the upward path of gold and coin prices.