How is the price of gold calculated?
As you know, the price of gold decreases in global gold prices are presented per ounce of 24-karat gold. However, we want to get the price of gold per gram of 18-karat gold so that we can have a correct understanding of the price of gold in the Iranian market. To do this, we first divide the price of each ounce of 24-karat gold by 41.47124 to get the price of each gram of 18-karat gold in dollars, then we multiply the resulting number by the daily price of the dollar.
Why is predicting the price of gold in 1404 important?
Today, various assets have emerged, such as cryptocurrencies, forex, etc., but gold is still one of the main assets that is traded in high volume. The scarcity of this precious metal is one of the main factors determining the movement of the gold price chart.
Therefore, predicting the price of gold in 1404 helps many people make the right decisions about their investments. You can also register with Inox to view the current price list of digital currencies and choose the best option based on your needs and desires.
The impact of Trump's economic policies on the global price of gold:
In recent days, the global price of gold has experienced an upward trend, and analysts believe that one of the main factors behind this growth is Donald Trump’s new tariff policies regarding the imposition of trade duties. According to experts, these policies could lead to an increase in inflation rates, a slowdown in economic growth and an escalation of trade tensions at the international level.
This situation has strengthened the economic uncertainty and attracted investors’ attention to safe assets such as gold.
In this regard, the price of an ounce of gold in global markets increased by $9 compared to the previous day, reaching $3,024. This is while the dollar index has also been on an upward trend, making buying gold more expensive for holders of other currencies. However, high demand for this precious metal has prevented its price from decreasing.
History of gold prices in 1403:
Now that we have become familiar with the gold price forecast for 1404, we should see what the history of the price of this precious metal has been like in the past year, because this information can help us determine the trend of the gold price until the end of 1404. Many users ask the question: is the price of gold increasing or decreasing?To answer this question and questions such as “will gold go down” and “will gold become cheap or not,” it is very helpful to examine past trends.
Factors affecting the price of gold in Iran and the world in 1404:
There are various factors that affect the global price of gold, and these factors must be taken into account to predict the price of gold in 1404 AH and the months after that. However, since the price of gold in rials is more important for us and we buy and sell this precious metal in rials, we must also mention the internal and external factors that affect the price of gold.
The impact of Iran-US negotiations on the gold and coin market:
In the last days of Farvardin 1404, the Iranian gold and coin market has shown a noticeable reaction to international political developments. The second round of indirect talks between Iran and the United States in Rome caused a significant decrease in prices in domestic markets. The coincidence of these developments with the increase in the global price of gold has drawn the attention of experts and investors to domestic factors affecting the market.
According to official data and quoted by Tabnak (Tabnak.ir), on Saturday, April 20, 1404, the price of 18-carat gold per gram fell by 218,000 tomans to 6,652,000 tomans. The Emami coin also fell by nearly 3,000,000 tomans to 76,455,000 tomans. The Bahar Azadi coin also fell by about 2,000,000 tomans to 70,305,000 tomans.
It is noteworthy that this decrease occurred while the price of gold per ounce in the global market has increased to $3,327, which usually causes prices to increase in the domestic market. This apparent contradiction further reveals the prominent role of the psychological atmosphere and political signals in the Iranian market.
What is the relationship between gold and coin prices and Iran-US negotiations?
In addition, ISNA (ISNA.ir) experts believe that the publication of positive news about the negotiation process, as well as the official announcement by the Iranian Foreign Minister regarding the progress of the talks, and The plan to continue in Oman has reduced inflation expectations and, consequently, prices in the market have fallen.
However, some market participants warn that this calm could be temporary. Until a final agreement is reached, the market will remain volatile. They advise investors to enter the market with a cautious view and avoid emotional decisions.
Financial markets' reaction to Iran-US talks:
Ultimately, the future price trend in the gold and coin market will largely depend on the outcome of the upcoming negotiations and the outlook for Iran’s political relations with the world. This experience once again showed that the domestic economy, especially in the area of safe assets, is strongly influenced by the political and diplomatic atmosphere.
In the last days of Farvardin 1404, the Iranian gold and coin market has shown a noticeable reaction to international political developments. The second round of indirect talks between Iran and the United States in Rome caused a significant decrease in prices in domestic markets. The coincidence of these developments with the increase in the global price of gold has drawn the attention of experts and investors to domestic factors affecting the market.
According to official data and quoted by Tabnak (Tabnak.ir), on Saturday, April 20, 1404, the price of 18-carat gold per gram fell by 218,000 tomans to 6,652,000 tomans. The Emami coin also fell by nearly 3,000,000 tomans to 76,455,000 tomans. The Bahar Azadi coin also fell by about 2,000,000 tomans to 70,305,000 tomans.
It is noteworthy that this decrease occurred while the price of gold per ounce in the global market has increased to $3,327, which usually causes prices to increase in the domestic market. This apparent contradiction further reveals the prominent role of the psychological atmosphere and political signals in the Iranian market.
In addition, ISNA (ISNA.ir) experts believe that the publication of positive news about the negotiation process, as well as the official announcement by the Iranian Foreign Minister regarding the progress of the talks and plans to continue them in Oman, has led to a decrease in inflation expectations and, consequently, a drop in prices in the market.
However, some market participants warn that this calm could be temporary. Until a final agreement is reached, the market will remain volatile. They advise investors to enter the market with a cautious view and avoid emotional decisions.
Ultimately, the future price trend in the gold and coin market will largely depend on the outcome of the upcoming negotiations and the outlook for Iran’s political relations with the world. This experience once again showed that the domestic economy, especially in the area of safe assets, is strongly influenced by the political and diplomatic atmosphere.
Stopping the upward trend in the global gold ounce price:
An ounce of gold witnessed a price drop on Tuesday, May 2, 2021. According to this news, an ounce of gold fell by $49 in the past 24 hours from $3,429 to $3,380.
The global ounce of silver, however, is trading at an increase of $33.1. Each gram of 999 silver in the domestic market has also reached 109,010 Tomans with a limited decrease at the time of publication of this news.
Continued decline in gold prices in global markets:
The price of gold reached $1,000 due to news of interest rate hikes in the US and reluctance to buy in the market.
Gold prices fell for the seventh straight session in the past eight, indicating continued downward pressure on the metal after its steepest decline in almost two years, Reuters reported.
According to the report, further reductions are expected given the bleak demand outlook.
Rising U.S. interest rates have reduced gold’s appeal as a safe haven, prompting more sellers to sell. Holdings of GoldTrust, the world’s largest gold-backed fund, fell further, to their lowest level since 2008.
Summary of gold price forecast in 1404 with Inox:
As you have seen, to predict the price of gold in 1404, one must pay attention to fundamental factors and technical analysis simultaneously. In fact, various factors affect the trend of the price of gold until the end of the year. In this article from Inox, we have tried to provide a comprehensive view of the gold forecast in 1404 by considering fundamental factors and technical analysis.
Also, we have provided you with the gold price forecast for 1404 and the following years. Of course, you should note that this review of the gold price trend until the end of the year is based on the opinions of reputable experts in the world; but it is not considered an investment recommendation and is only for informational purposes. Therefore, before investing in this precious metal, you should do the necessary research in this area.
Events affecting the price change of the dollar and Tether in 1404:
The dollar and Tether rates in Iran are influenced by economic, political, and international factors. Investors are always trying to predict the future of the currency market by analyzing these factors.One of the important topics in this field is the prediction of gold prices and its relationship with exchange rate changes, because many people turn to gold as a safe asset during currency fluctuations. Below, we examine the most important events affecting the price of the dollar and Tether.
Factors affecting the price of gold next year:
Consumer demand in jewelry: Increased demand in the jewelry industry and other industries can increase the price of gold.
US Dollar Index and Inflation: The gold price forecast in 1404 depends on inflation and the dollar index.
Uncertainty in financial markets: Increased economic instability is causing investors to turn to gold, leading to an increase in the future price of gold in Iran.
Will gold become more expensive in the coming days?
The increase in the global price of gold and the increase in the price of the dollar in the free market caused the price of gold to increase. However, currently, considering the news of the last few days and the decrease in the price of gold and currency, a decline is likely, and if gold is not supported at 6,650,000 Tomans, the gold price forecast for the next week shows a decrease in prices. However, in general, the gold price forecast for the next 5 years is still bullish.
Is now the time to buy gold?
For those who intend to buy gold at a reasonable price, these days can be a good opportunity, especially if the fluctuations in the currency market are controlled. But if the goal is short-term investment, it is better to wait a little and carefully follow the developments in the dollar market and political negotiations.
Conclusion
Although it is difficult to determine the exact time and price of gold, it is always possible to predict its demand by examining the factors affecting it. Therefore, to answer the question of when gold will become cheap, factors such as domestic and foreign monetary policies, exchange rates, inflation, and political developments can be considered.
Since global developments are not always 100% predictable, it is necessary to re-monitor the market situation in addition to examining these factors. High inflation and exchange rates can also be a good sign to buy gold.
