GOLD NEWS

Iran drastically increases gold imports

Fri Sep 27 2024

As a member of the BRICS alliance, Iran has dramatically increased its gold imports, bringing in six times more bullion than it did last year—about 43 tons in total, according to a report from Iran International.

According to Iran's Customs, between March 21 and September 20 (the first half of the Iranian calendar year), the country imported around 43 tons of gold, valued at $2.5 billion. That’s a massive jump from the 7.3 tons (worth $466 million) it imported during the same period last year. 

Pictured is the performance of gold over the past year measured in Iranian rials. (Source: GoldBroker) (credit: PR)

Mohammad Rezvanifar, Chief of the Islamic Republic of Iran’s Customs Administration, said most of this gold came through Tehran’s International Imam Khomeini Airport, with nearly 97% processed there.

Source: https://www.jpost.com/