The fourth session of the in-person gold bullion auction will be held on Wednesday
to report Iran is an economistFollowing the increase in the prices of all kinds of coins and gold, the central bank put new policies to control prices. The Governor General of the Central Bank announced on January 24 this year that the Central Bank is always seeking to adjust the laws related to the country’s gold import. In this regard, we were trying to increase the country’s gold reserves, and with the measures taken recently, the country’s currency and gold reserves increased.
He said that according to the new decision of the central bank, starting Wednesday, January 27, 1402, gold will be offered in the exchange center of Iran’s currency and gold.
Farzin: The central bank is always seeking to amend the laws related to the import of gold in the country, and with the measures taken, currency and gold reserves have increased.
Therefore, three auctions have been held in the exchange center so far. The face-to-face auction at the Iran Gold and Currency Exchange Center is conducted in two ways: small auction and wholesale auction, and the buyer can buy at least one and a maximum of five one-kilogram gold bullion in the small auction; The retail purchase limit per calendar week will be just five standard gold bars.
Applicants for buying in the wholesale auction are also allowed to buy at least one and at most four packages of standard gold bars; Each package of standard gold bullion in Iran’s gold and currency exchange center contains five pieces of one kilogram bullion with a grade of 995 per thousand. Also, the bulk purchase limit in each calendar week is only 20 pieces of standard gold bars.
The place of delivery of standard gold bullion for trading in the Gold Trading Hall of Iran Exchange Center is the treasury of Kargoshai Bank of the Center, and the minimum bid price is announced by the applicant to the auction board on the day of the auction.
According to the announcement of the Governor of the Central Bank, the first auction started on January 27, and in this auction, 10 standard gold bars of one kilogram were bought.
The second in-person auction was held with the supply of 37 kg of gold bullion to settle the foreign exchange obligation; From this amount of supply, which was based on the supply and demand mechanism and the face-to-face auction method, 5 kilograms of ingots were traded at an average price of 3 billion and 603 million tomans for each one kilogram piece with a grade of 995 per thousand.
In the third in-person auction, out of a total of 112 standard one-kilogram gold bars with a grade of 995/1000, 79 standard gold bars were traded with an average price of three billion and 635 million tomans. According to this report, 94 kg of gold bars were traded in the last three auctions.
Supply of 94 kg of gold bullion during three auction periods
As mentioned, the fourth auction will be held on Wednesday (11 February 1402). According to the exchange center, the meeting starts at 12:00 and continues until 16:00. The security deposit is 3 billion and 500 million Rials per piece of standard gold bullion.
The buyer can pay the security deposit until 24:00 on Tuesday, 10th of Bahman 1402. It should be noted that the amount of the security deposit must be paid to the Melli Bank of Iran, Kargoshai Bank branch of the Center and to the account number of the Iran Currency and Gold Exchange Center.