Gold Price Today in Iran in Iranian Rial (IRR)

How Gold Price is Determined in Iran

The price of gold in Iran is influenced by multiple factors, leading to fluctuations in its market value. One of the primary determinants is the global gold price, which is set in international markets and serves as a benchmark. As Iran engages in trade globally, any changes in the international price directly impact local prices.

Additionally, local demand and supply play a crucial role. In times of economic uncertainty or inflation, Iranians often turn to gold as a safe-haven asset, increasing demand. Conversely, if demand decreases due to economic stability or other investment opportunities, prices may drop.

Moreover, currency value has a significant effect. The Iranian rial’s strength relative to major currencies, particularly the US dollar, can cause gold prices to rise or fall. If the rial weakens, gold becomes more expensive for local buyers.

Government policies, such as import regulations and taxation, can also affect gold prices in Iran. Restrictions on imports may lead to limited availability, thereby increasing prices. Overall, the interplay of these factors contributes to the dynamic landscape of gold pricing in Iran.

Price of Gold Bullion in Iran in Iranian Rial

• The price of gold bullion 5 grams 24K in Iran: 17,818,765.46 Iranian Rial
• The price of gold bullion 10 grams 24K in Iran: 35,637,530.92 Iranian Rial
• The price of gold bullion 20 grams 24K in Iran: 71,275,061.85 Iranian Rial
• The price of gold bullion 50 grams 24K in Iran: 178,187,654.62 Iranian Rial
• The price of gold bullion 100 grams 24K in Iran: 356,375,309.24 Iranian Rial
• The price of gold bullion 250 grams 24K in Iran: 890,938,273.10 Iranian Rial
• The price of gold bullion 500 grams 24K in Iran: 1,781,876,546.20 Iranian Rial
• The price of gold bullion 1000 grams 24K in Iran: 3,563,753,092.41 Iranian Rial

Predictions for Gold Prices in Iran

The gold market in Iran has been facing significant fluctuations influenced by various economic factors, including inflation, currency devaluation, and geopolitical tensions. Experts predict that the price of gold in Iran may continue to rise due to the ongoing depreciation of the Iranian rial and the persistent inflationary pressures affecting the economy.

Recently, analysts have observed that as the national currency weakens, many Iranians are turning to gold as a safe-haven asset. This shift contributes to increased demand, driving up gold prices further. In the short term, gold prices may see volatility; however, the long-term outlook remains bullish. Economic sanctions and political instability are likely to sustain high levels of uncertainty, prompting more investors to seek refuge in gold.

In addition, the global gold market trends—particularly in relation to the U.S. dollar and international interest rates—will play a crucial role in determining gold prices in Iran. The overall assessment suggests that while temporary dips may occur, the underlying trend is expected to be an upward trajectory towards the end of 2024.

Gold price in Iran in November 2024 in Iranian Rial

Gold Making Charges in Iran

In Iran, the gold making charges, which refer to the costs associated with crafting gold jewelry, play a vital role in the overall price of gold products. These charges are typically expressed as a percentage of the gram price of gold. Currently, the making charges can vary significantly depending on the complexity of the design and the craftsmanship involved, usually ranging from 5% to 15% of the gold's market price.

Considering the market price of gold, which as of late October 2023 is approximately 140 million Iranian Rials per gram, the making charges can therefore translate to an absolute value of around 7 million to 21 million Iranian Rials per gram. This means that for a gram of gold priced at 140 million Rials, customers could expect to pay between 147 million and 161 million Rials when incorporating the making charges into the purchase. Thus, in Iran, understanding these charges is essential for consumers looking to buy gold jewelry, as they significantly impact the final price of the product.