Iran makes substantial shift into gold: reports


Iran has reaped the rewards of a significant shift into gold, Mahmoud Bahmani, the governor of the Central Bank of Iran, was reported as saying on Saturday.

Mehr News Agency, a Tehran-based wire service, reported that Bahmani said the central bank had shifted about 15% of its foreign exchange reserves into gold, at a conference on developing the country's banking system. "When the price of gold worldwide was on average $656, a few hundred tonnes of gold were imported," Bahmani said, adding that

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