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Commodities

Iran's Gold Demand Hits 3-Year High Amid US Sanctions Fears

Guavy AI Editorial Team
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Gold
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Iran's gold demand surged to a three-year high in Q1, reaching 9.3 tons due to investor concerns over worsening Iranian-US relations and the prospect of currency controls.

The value-added tax on gold jewelry imposed last year contributed to a 16% decline in jewelry consumption to 10.7 tons.

The Central Bank of Iran increased the supply of gold coins, reducing premiums, making them a more attractive investment option compared to jewelry.

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