Demand for gold in Iran reaches highest level in four years
A report in Bloomberg suggests that the relative recovery of Iran's economy has led to an increase in demand for gold in the country.
Claudia Carpenter wrote in Bloomberg on Thursday, May 4, that the World Gold Council, in a report published on Thursday, said that the relative improvement in the economic situation in Iran has caused demand for jewelry in Iran to increase by 27% in the first three months of this year compared to the same period last year.
This growth has brought Iran's demand for jewelry this season to 12,900 kilos.
Iran's demand for gold bars and gold coins was 3 tons and 700 kilos, the highest among countries in the region.
The World Gold Council report states that "declining oil prices and a sluggish tourism market have reduced demand for gold across the region."
Last year, Saudi Arabia had the highest demand for gold in the Middle East.
Source: Voice of America
