Gold Coin Prices Exceed 41 Million Tomans, Dollar Reaches 63 Thousand Tomans; Price Explosion in the Market

Following tensions in the gold and currency markets due to Israel's attack on the Islamic Republic's consulate in Damascus, the price of gold coins in Tehran has surpassed 41 million tomans, and each US dollar is being sold for 63 thousand tomans. A review of gold and currency information websites and Telegram channels shows that in recent hours, the price of gold coins has increased by more than 1.5 million tomans. In the currency market, the price of each US dollar has risen from 61 thousand tomans to 63 thousand tomans. Accordingly, the price of each euro has reached 68 thousand tomans and each British pound has reached 79 thousand 300 tomans. As of the time of this report, the price of each gold coin is 41 million 300 thousand tomans, a half coin is 24 million 200 thousand tomans, and a quarter coin is 15 million 200 thousand tomans. Yesterday, following Israel's airstrike on the headquarters of the Quds Force commanders in the consulate building adjacent to the Islamic Republic of Iran's embassy in Damascus, at least seven IRGC commanders were killed. An economic journalist told Voice of America that the possible reaction of the Islamic Republic to this attack and the potential escalation of tensions in the region will cause severe fluctuations in the Iranian currency market, and based on the nature of the Islamic Republic's response, there is a possibility that the dollar could exceed 70 thousand tomans in the coming days. Reza Ghaibi believes that the developments in the currency and gold markets in recent hours indicate that with the first serious reaction of the Islamic Republic to this Israeli action, we should expect an explosion in prices in the market. From the perspective of this economic journalist, the Iranian economy is in its most sensitive period in terms of being affected by internal and external political events and the lack of rationality, which could disrupt social equations. The dollar has surpassed 62 thousand tomans; economic aftershocks of the attack on the Islamic Republic's consulate in Damascus. The gold coin reached 40 million tomans; tensions in the gold and currency markets. The Security Council is convening at Russia's request; the Islamic Republic says it has made 'appropriate decisions' to respond to the attack.