Gold and Coin Price Forecast for Tuesday, 21 Mehr 1405 / Falling Dollar Paves Way for Further Gold Correction + Table

Gold and coin prices continued their downward trend in Monday's trading, following the drop in the dollar price seen in Sunday's session. At the close, the Emami coin price slipped to around 264.9 million tomans, and 18-karat gold fell to the 26-million-toman channel floor.

According to Ambassador Arjan, the price of gold and coins started trading with a decrease in value on Monday, following the decline on Sunday, and at the same time as the price of the dollar retreated and the bill returned to the channel of 261 thousand tomans, the selling pressure continued in the domestic gold market. Emami coin returned to channel 264 million tomans and the price of 18 karat gold was also at the bottom of channel 26 million tomans. It should be noted that the global ounce of gold reached 4193 dollars with an increase of 15 dollars in the continuation of the activity on Monday at the same time as the evening trading of the gold market.

Choose the desired size:

Economic experts believe that if the dollar price fluctuates in the range of 261 to 263 thousand Tomans and the global ounce remains in the range of 4170 to 4200 dollars, it is expected that the price of gold and coins will continue to have a limited fluctuation and tend to stabilize or decrease slightly. In this situation, each gram of 18 carat gold can fluctuate in the approximate range of 25,800,000 to 26,200,000 tomans, and the Imami coin can be in the range of 262 to 266 million tomans.

If the global ounce is strengthened and the price of the dollar is further away from further decline, there is a possibility that 18-karat gold will return to the range of 26,200,000 to 26,500,000 tomans and the Imami coin will move to 266 to 269 million tomans. On the other hand, the continued decline of the dollar along with the weakening of the ounce can increase the price of 18-karat gold to the range of 25,500,000 to 25,800,000 tomans and expose the Imami coin to the range of 260 to 263 million tomans.

Bahar Azadi coin had a drop of three million tomans in evening trading

According to the announcement of the Tehran Jewelry Association, the price of Imami coin was traded at 264 million 900 tomans and Bahar Azadi coin was traded at 256 million tomans. The Imami coin had a drop of one million tomans in evening trading, and the Bahar Azadi coin was accompanied by a decrease of three million tomans.

On Monday, 20 Mehr 1405, half coin and quarter coin were traded at the price of 140 million 100 thousand tomans and 74 million 200 thousand tomans, respectively. The price of a half coin decreased by 1,200,000 Tomans and the price of a quarter coin decreased by 600,000 Tomans in evening transactions. The gram coin was traded at 37 million tomans in the evening trading and the value did not change.

Gold is ready to return to the channel of 25 million tomans

The gold shekel was traded on Monday at 112,990,000 tomans and decreased by 310,000 tomans. Each gram of 18-karat gold was traded in the range of 26 million and 83 thousand tomans, and in the evening trading, there was a drop of 72 thousand tomans.

Read more reports on the gold and currency page.