According to the exchange rate of the National Exchange, the dollar and the euro became cheaper than yesterday and the dollar price reached 19,160 tomans.
The price of gold fell today in trading on Thursday, July 26, 1999, the world market, and fell behind its highest record in eight years.
According to the Gold Cafe , the exchange rate was announced today, Thursday, July 25, at the National Exchange.
Based on this, the price of the dollar for sale in the national exchange was announced as 19,160 Tomans. These exchanges also buy dollars from people at a price of 19,060 tomans. The price of the dollar in the Central Bank is 4200 Tomans.
The price of Euro has been announced for sale in the National Exchange 21,250 Tomans; The purchase price of Euro in these exchanges is 21,150 Tomans. The price of Euro in the Central Bank is set at 4557 Tomans.
Markets: People became sellers
The price of the dollar had risen in recent days, but has changed direction since yesterday evening, Wednesday. Although some markets were trying to resist further depreciation of the currency, this resistance has apparently been broken.
Yesterday, Wednesday, the price of the dollar rose from 20,500 tomans to 19,600 tomans, but in the last hours of the previous day, some markets resisted this decrease and caused the dollar price to return to the channel of 20,000 tomans at the beginning of today's trading. However, the dollar did not last long on the 20,000 Toman channel and returned to the 19,000 Toman channel. The selling price of the dollar at the time of publication of this report is 19 thousand and 850 Tomans.
Market participants say that since yesterday, a large number of people who wanted to sell have started selling their dollars. And there are still more sellers than buyers in the market.
Exchange offices predict that the presence of the market maker in the foreign exchange market will continue in the coming days; Therefore, the increase in supply by the market maker and also the increase in the number of sellers in the foreign exchange market has been one of the most important reasons for the decrease in the price of the dollar in recent hours.
One of the most important reasons for the decrease in the price of currency, which started the day before, was the heavy supply of currency by the market maker and the increase in the number of sellers in the market; The data show that $ 55 million entered the market yesterday by the market maker, which sold only $ 3 million.
Also, until 16:00 yesterday in the Nima system , the equivalent of 76 million Euros in the form of various currencies, including US dollars, Euros, Chinese Yuan , UAE Dirhams, Indian Rupees, etc., has been offered in this system. During the last day, the real demands of the currency have been covered and we have witnessed a surplus of supply in the Nima system.
Of course, new information today also confirms that the heavy supply of currency in the market continues today; The purpose of continuing the heavy supply of foreign exchange by the market maker is to overcome the psychological atmosphere in the foreign exchange market, which was created and intensified by foreign exchange brokers and traders.
News indicates that more than $ 100 million worth of buildings will enter the market today, which has caused the dollar to change direction and continue to decline.
The price of gold in the world market fell
The price of gold fell in trading on Thursday, July 26, 2020, following the fall of stock markets due to fears of an increase in the incidence of coronavirus, and fell behind its highest record in eight years.
Gold for immediate delivery fell 0.1 percent to $ 1,760.39 an ounce in Singapore trading on Friday, according to the Gold Cafe . The market price of this market had climbed to $ 1779 yesterday, which was the highest price since October 2020.
In the US futures market, gold fell 0.2 percent to $ 1,771.80 an ounce.
According to Jeffrey Holly, senior analyst at Awanda, the pattern of behavior observed this year is that as stock and energy markets collapse, demand for liquidity increases across all markets, including gold. However, short-term price correction will not be a rapid downtrend, and there is no rush to exit the market as demand for safe havens and low interest rates continue to support gold.
The world's central banks have implemented extensive fiscal stimulus measures and kept interest rates low, which has helped push gold prices up more than 16 percent this year. Gold faces rising buying demand amid economic and political uncertainties.
Asian stock markets fell in response to rising US coronavirus cases and the International Monetary Fund's downgrading global economic outlook, as demand for safe-haven assets shifted to the dollar.
Gold sometimes moves in line with stock markets this year, and the price of this precious metal will fall when stock markets fall due to investors selling their gold assets to provide liquidity.
According to Reuters, three US states have reported an increase in cases of coronavirus. Coronet prevalence has also been reported in Brazil, Latin America and India, the world's second largest consumer of gold.
In other precious metals, palm for immediate delivery rose 0.8 percent to $ 1,878.45 an ounce. Platinum for immediate delivery rose 0.1 percent to $ 800.29 an ounce. Silver rose 0.2 percent to $ 17.55 an ounce.
The price of coins returned to the historical peak following the dollar
The price of coins returned to the historical peak following the dollar. The currency market's influx into the market forced not only the dollar but also the coin to retreat.
At 16:00 yesterday, the price of each coin of the new design decreased by 320 thousand Tomans and reached the price of 8 million and 400 thousand Tomans. Along with the physical transactions of this precious metal, the coin deposit certificate in the commodity exchange also returned to the channel of 8 million and 500 thousand Tomans. The fall in the price of coins was generally due to the fall of the dollar.
The negative impact of the currency index was so great that the rise in the price of an ounce of gold to the highest level in the last 8 years was not very noticeable and did not support the coin. This led to an increase in the gap between the intrinsic value of the coin (including VAT) and the current market price of the metal in yesterday's trading.
Explaining the latest state of the world market, the world of economics also wrote: The global ounce of gold traded at $ 1776 on Wednesday, rising to the highest level since October 2012 at 4:00 PM. Although the better-than-expected rise in the US PMI and major European economies, as well as the improvement in US housing sales, have largely prompted investors to revive economic activity, the passage of the corona's population of more than 9.2 million has heightened investor concerns. Preventive measures by governments and the influx of unsupported money into the global economy. An issue that ultimately worked in favor of gold. Meanwhile, the US Treasury Secretary announced that another support package in the form of money injection and tax delays is on the way, which led to the weakening of the dollar and the growth of gold.
The ounce awaits US macroeconomic data on Thursday, including quarterly GDP changes and weekly unemployment.
