April 19, 2006: Iranian TV Interviews Merchants on Gold Price Increase

(Presenter Heydari) The increase in the price of gold coins is on top of today's news. The price of a full Bahar Azadi gold coin - the old design - reached an unprecedented 200,000 tuman (approximately 219 US dollars). The half Bahar Azadi gold coin was being sold at 95,000 tuman. However, the only buyers have so far been the gold merchants. A quarter Bahar Azadi gold coin in sold in shops for 46,000 tuman.

(Unidentified male merchant) Prices have gone up.

(Unidentified male reporter) What is the reason for the price increase?

(Same merchant) It would appear that China and Japan are buying gold. The gold trade is moving to East Asia.

(Second unidentified male merchant) The price of gold has gone up worldwide. I think you are talking about gold coins. The price of gold coin has increased somewhat arbitrarily.

(Third unidentified male merchant) Experience has taught us that when gold prices go up like this, it will come down the same way. But it will eventually stabilize. It may increase by 10,000 tuman but it will decrease by 5,000 tuman and will eventually stabilize.

(Fourth unidentified male merchant) In the 15 years that I've been in the business, this is the first time that the price of gold coin has artificially been increased. The prices of coins have gone up 40,000 tuman in one day.

(Fifth unidentified male merchant) The price of gold in Iran has always correlated to the world market. The price of gold has been on the increase. The current price reflects the true market value.

(Correspondent) So it has nothing to do with the domestic issues.

(Same merchant) No. It has nothing to do with domestic issues. But the price of gold coin is a different matter. The price of gold coin has been artificially increased, especially yesterday. The reason is that small investors have started to buy gold coins.

(Sixth unidentified male merchant) The price of gold is determined by world events. But the price of gold coin is subject to domestic issues. The current prices are artificial. If bank widen its distribution, the price will decrease. But the price of gold depends on the world market.

(Seventh unidentified male merchant) The trading of gold has generally decreased.

(Correspondent) Do you buy or sell coins?

(Same man) I neither buy nor sell coins. I have them. But I neither buy nor sell them.

(Description of Source: Tehran Vision of the Islamic Republic of Iran Network 1 in Persian -- state-run television)