IRNA quoted Iran Gold and Jewelry Union chairman Nader saying last week’s international gold rally did not lift — and in some cases coincided with declines in — domestic Iranian gold prices. He attributed the disconnect to a fall in the domestic exchange rate (weaker Iranian rial) and positive economic news, including a recent agreement, which largely offset global price pressures. Domestic prices are in a relatively stable range. Near-term drivers to watch, he said, are global gold trends, the

IRNA quoted Iran Gold and Jewelry Union chairman Nader saying last week’s international gold rally did not lift — and in some cases coincided with declines in — domestic Iranian gold prices. He attributed the disconnect to a fall in the domestic exchange rate (weaker Iranian rial) and positive economic news, including a recent agreement, which largely offset global price pressures. Domestic prices are in a relatively stable range. Near-term drivers to watch, he said, are global gold trends, the rial, supply-demand and political developments; he expects natural 1–3% volatility next week and judges large moves unlikely.