Lead
On Friday morning, 12 Tir 1405 (July 3, 2026), global markets are focused on a weaker than expected US jobs report for June: only 57,000 jobs were added versus roughly 110,000 to 115,000 expected, and the prior two months were revised down by a combined 74,000 jobs. The report weakened the US dollar index and pushed global gold above $4,100 per ounce. At the same time, Brent crude extended its multi week decline to around $72.3 a barrel. Tehran's stock exchange and Iran's official currency and gold markets are closed today for the weekend (Thursday and Friday); the last trading session of the week was Wednesday, 10 Tir (July 1).
Today's Snapshot
| Market | Latest | Change | As of |
|---|---|---|---|
| Brent crude (USD/bbl) | 72.3 | +0.6% | Friday morning, July 3, 2026 |
| WTI crude (USD/bbl) | ~69 | +~0.5% | Friday morning, July 3, 2026 |
| US Dollar Index (DXY) | 100.8 | Roughly flat | Friday morning, July 3, 2026 |
| Spot gold XAU (USD/oz) | ~4,130 | +~2% | Thursday, July 2, 2026 |
| Free market USD (toman) | 175,395 | Marginal move | Friday, July 3, 2026 |
| Official "agreed" USD rate, sell (toman) | 147,664 | Gradual uptrend | Wednesday, July 1, 2026 |
| 18-karat gold (toman/gram) | 17,475,500 | Up from Wednesday | Thursday, July 2, 2026 |
| Emami gold coin (toman) | ~177,000,000 | Higher | Thursday, July 2, 2026 |
| Bitcoin (USD) | ~61,500 | Back above $60K | Jul 2 to 3, 2026 |
| Tether USDT (toman) | ~172,000 | Stable | Thursday, July 2, 2026 |
Today's Headlines
- US June nonfarm payrolls rose by just 57,000, well below the roughly 110,000 to 115,000 expected, with the prior two months revised down by a combined 74,000 jobs; unemployment ticked up to 4.2% (Reuters and Bloomberg, July 2, 2026).
- Global gold rallied more than 2% on the jobs data and relatively dovish comments from Federal Reserve Chair Kevin Warsh at the ECB Forum, reaching about $4,130 per ounce (Kitco News and Yahoo Finance, July 2, 2026).
- Brent crude fell to about $72.3 a barrel, near its lowest level in several months; CNBC reported the move tracked reported progress in Doha mediated US-Iran talks (July 3, 2026).
- Central Bank of Iran Governor Abdolnasser Hemmati said about $2 billion has been allocated to meet industrial FX needs and that reserves rose by roughly $4.5 billion recently, adding there are no plans to revive the multi tier preferential FX rate (EcoIran, Tir 1405).
- The Dow Jones closed Thursday up 1.14% at a fresh record near 52,900, while the Nasdaq fell about 0.8% on chip sector selling (Yahoo Finance, July 2, 2026).
Currency
Iran's official currency market and exchange bureaus are closed Thursday and Friday. The last published official "agreed" (tavafoghi) USD rate from Iran's Currency and Gold Exchange Center was Wednesday, 10 Tir 1405 (July 1): 147,664 toman (sell) and 146,335 toman (buy); the euro rate was 168,580 toman (sell) (source: Naftema and Etemad Online reporting on Exchange Center data, July 1, 2026). These figures show a gradual uptrend from Tuesday, 9 Tir (USD sell 147,305 toman).
In the free market, which continues to price even on non trading days, the dollar traded around 175,395 toman on Friday morning, 12 Tir, little changed from Thursday's 175,015 toman (source: Tejaratnews and Eghtesad Online). The gap between the free market and official agreed dollar rates remains around 27,000 to 28,000 toman, a structural feature of Iran's dual exchange rate system rather than a new development.
On FX policy, Central Bank Governor Abdolnasser Hemmati said about $2 billion has been allocated to cover industrial FX demand and that the country's foreign exchange reserves rose by roughly $4.5 billion recently; he reiterated there are no plans to bring back the preferential (tarjihi) multi tier FX rate (source: EcoIran, Tir 1405).
Gold and Coins
The latest Iranian physical gold and coin prices are from Thursday, 11 Tir 1405 (July 2), since this market is also closed on Fridays. 18-karat gold traded around 17,475,500 toman per gram on Thursday (source: Donya-e-Eqtesad, broadly aligned with Nasim News and Eghtesad Online in a 17,428,000 to 17,488,000 toman range), up notably from Wednesday's 17,198,100 toman, tracking the rally in global gold.
The Emami gold coin traded around 177,000,000 toman on Thursday (sources ranged from 176 million to 177.99 million toman) and the full Azadi coin reached about 172,600,000 toman; both rose notably from Wednesday's roughly 166,900,000 toman for the full coin (source: Eghtesad Online and Ta'adol). The most recently published Emami coin premium figure dates to Sunday, 7 Tir, at 5,422,000 toman; no more recent figure has been published.
Globally, spot gold (XAU) traded around $4,124 to $4,130 per ounce Friday morning, up more than 2% from its recent eight month low (source: Kitco News, Yahoo Finance and USAGold, July 2, 2026), a move mainly attributed to the weak US jobs report and dovish comments from the Federal Reserve chair at the ECB Forum.
Crypto
After a volatile week, Bitcoin climbed back above $60,000 on Thursday, 11 Tir, trading in a $60,160 to $61,713 range (source: CoinDesk, Eghtesad News and Ta'adol, July 2, 2026). Ethereum traded around $1,688 to $1,713 (source: CoinDesk and Fortune, July 2, 2026).
In the domestic market, Tether (USDT) traded around 171,000 to 173,000 toman on Iranian exchanges (source: Nobitex and ArzDigital, this week of Tir 1405), slightly below the free market cash dollar rate, a typical pattern for domestic USDT pricing.
Tehran Stock Exchange, Steel, Cars, Materials
The Tehran Stock Exchange, the Iran Mercantile Exchange, and physical steel, vehicle and building material markets are closed Thursday and Friday. A full report on these markets for the week's last trading session (Wednesday, 10 Tir) was published in that morning's edition. Trading resumes Saturday, 13 Tir.
Global Backdrop
US equities closed mixed on Thursday, 11 Tir (July 2, 2026): the Dow Jones rose 1.14% to a fresh record near 52,900, the S&P 500 was roughly flat at 7,483, and the Nasdaq fell about 0.8% to 25,833, largely on chip sector selling (source: Yahoo Finance and TheStreet, July 2, 2026).
In Asia, equities that opened lower Friday morning on chip stock weakness reversed into the green by afternoon trade: Japan's Nikkei, South Korea's Kospi, Hong Kong's Hang Seng, China's CSI 300 and Australia's ASX 200 all posted gains (source: CNBC, July 3, 2026).
Brent crude traded around $72.3 a barrel and WTI around $69 Friday morning, both near their lowest levels in several months amid a multi week decline (source: HDFCSky and CNBC, July 3, 2026). The US Dollar Index (DXY) stood around 100.8, after falling roughly 0.6% to 0.7% Thursday on the weak jobs report (source: Reuters and Bloomberg, July 2, 2026).
What to Watch Today
- The Tehran Stock Exchange and Iran Mercantile Exchange reopening Saturday, 13 Tir, and any reaction to the recent drop in global oil prices.
- The new weekly official agreed FX rate from Iran's Currency and Gold Exchange Center early next week.
- Continued Doha mediated US-Iran talks and their potential effect on oil prices and regional risk.
- Further US economic data and Federal Reserve commentary in the coming days.
These are observations for monitoring only and do not constitute trading advice.
Disclaimer
This note is for informational and educational purposes only and does not constitute investment advice. All figures carry a specific as-of date and may have changed by the time of reading. Verify information with credible, current sources before making any financial decision.
