{"id":5186,"date":"2018-05-07T10:14:43","date_gmt":"2018-05-07T10:14:43","guid":{"rendered":"http:\/\/en.azpar.com\/?p=5186"},"modified":"2018-05-07T10:17:00","modified_gmt":"2018-05-07T10:17:00","slug":"golden-days-of-bahar-azadi-gold-coins-on-irans-stressed-market","status":"publish","type":"post","link":"https:\/\/en.azpar.com\/?p=5186","title":{"rendered":"Golden days of \u201cBahar Azadi\u201d gold coins on Iran\u2019s stressed market!"},"content":{"rendered":"

Market News<\/strong><\/h2>\n

\u2013 The\u00a0Central Bank of Iran\u00a0announced the halting of Gold coin presales with different maturities, stressing that there is no limitation with regards to the nation\u2019s gold reserves; this body is determined to continue its oversight over the market and in case needed, it will intervene either through auctions or presales. Over the last few days \u201cBaha Azadi\u201d gold coins hiked meteorically and prices reached IRR 22,000,000 level. It seems that USD speculation demand is now directed to gold market and the CBI decision is to put a cap on that for now.<\/span><\/p>\n

\u2013 Following the\u00a0forex rate unification\u00a0implemented since the past month, the government has announced its commitment to meet all needs for hard currency, which includes those that exceed the previously-set caps; the NIMA platform is also under progress and is planned to address all FX needs of businesses in a short time. Just after the news, an official in CBI announced that home appliance producers will be entitled to have USD\/IRR rate of 42,000 for their raw materials imports.<\/p>\n

\u2013 Stressing on Iran\u2019s stronger economy infrastructures as well as companies\u2019 solid financial grounds and therefore, Iran capital market\u2019s higher profitability contrary to previous years, the head of the\u00a0Securities and Exchange Organization\u00a0(SEO) of Iran said that the US withdrawal from the JCPoA will not damage the market security.\u00a0Tehran Stock Exchange\u00a0and\u00a0Iran Fara Bourse\u00a0have the habit of pre-digesting disappointing news and that is the main reason for last 2 weeks free fall of the market!<\/p>\n

In the Market<\/strong><\/h2>\n

Iranian equities rallied today after passing \u201cthe rock bottom\u201d and recouped a tiny part of their previous weeks\u2019 losses. Largely thanks to their mega caps, TEDPIX (0.34%) jumped 315 points and stood above 93,000 level again while IFEX performed amazingly and hiked 2.21%.<\/p>\n

Nearly the entire\u00a0Metals<\/strong>\u00a0group saw positive trades with many names hitting their highs; the competition over products of the Esfahan\u2019s Mobarake Steel products in the IME attracted investors\u2019 attention to this share. Besides, the pellet production unit of Khorasan Steel was inaugurated with President Rouhani\u2019s visit to Neishabour; it will annually produce 2.5 mn tons of pellet. Zangan Zinc Industry returned to the market at IRR 9,145, 9% higher. Positive sentiment dominated the\u00a0Iron Ore<\/strong>\u00a0group as well.<\/p>\n

The rise in global oil prices directed attention towards the\u00a0Oil Products<\/strong>\u00a0space, in addition to the forex rate unification scheme.<\/p>\n

The majority of names in the\u00a0Chemicals<\/strong>\u00a0industry also finished above their flat lines. Pentane and Hexane production units will be launched in Kermanshah Petrochemical Company in the near future; the ticker was planned to reopened, but it did not happen.<\/p>\n

The\u00a0Automotive<\/strong>\u00a0space settled in the green with Iran Automobile Spare Parts and Electric Khodro Sharq hitting their highs. Despite President stress on divesting the government share in Iran Khodro and Saipa companies, the Minister of Industry, Trade and Mining announced that such will not be possible unless the number of rivals in Iran\u2019s automotive industry increases; this can negatively affect those companies\u2019 share prices.<\/p>\n

As was said above, home appliance producers will be provided with the USD\/IRR at IRR 42,000 for importing their required raw materials from today. In the next phase, the forex needed for importing prepared goods will be provided. The\u00a0Machinery & Equipment<\/strong>\u00a0space settled with slim gains.<\/p>\n

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Source:<\/p>\n

2018, Golden days of \u201cBahar Azadi\u201d gold coins on Iran\u2019s stressed market!, Monday,May 07, p.1,<https:\/\/agahgroup.com<\/a><\/em>><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Market News \u2013 The\u00a0Central Bank of Iran\u00a0announced the halting of Gold coin presales with different maturities, stressing that there is no limitation with regards to the nation\u2019s gold reserves; this body is determined to continue its oversight over the market and in case needed, it will intervene either through auctions or presales. Over the last […]<\/p>\n","protected":false},"author":1,"featured_media":5190,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6,28,31,1],"tags":[],"class_list":["post-5186","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-news","category-news","category-news-events","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/en.azpar.com\/index.php?rest_route=\/wp\/v2\/posts\/5186","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/en.azpar.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.azpar.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.azpar.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/en.azpar.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5186"}],"version-history":[{"count":3,"href":"https:\/\/en.azpar.com\/index.php?rest_route=\/wp\/v2\/posts\/5186\/revisions"}],"predecessor-version":[{"id":5191,"href":"https:\/\/en.azpar.com\/index.php?rest_route=\/wp\/v2\/posts\/5186\/revisions\/5191"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.azpar.com\/index.php?rest_route=\/wp\/v2\/media\/5190"}],"wp:attachment":[{"href":"https:\/\/en.azpar.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5186"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.azpar.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5186"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.azpar.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5186"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}