Lead
At midday on Sunday, 21 Tir 1405 (12 July 2026), Iran's asset markets moved in two directions at once. On the exchange floor, the Tehran Stock Exchange main index posted its fifth consecutive losing session, falling 126,965 points (2.51%) to 5,055,648. Yet in the very same hours, the gold and coin market, which had dropped sharply on Saturday, reversed course and climbed. A gram of 18-karat gold rose 0.93% to 17,638,200 tomans, the Emami coin gained 1.41%, and the coin premium widened again. The picture of the day is a clear divergence: money is leaving equities, and part of it is flowing back into traditional safe havens.
Today at a glance (Sunday midday, 21 Tir 1405 / 12 July 2026)
| Indicator | Value | Change |
|---|
| TSE main index (TEDPIX) | 5,055,648 | −2.51% |
| Free-market dollar | ~179,500 tomans | +0.73% |
| Exchange-Center transfer dollar | 149,327 tomans | +0.12% |
| 18-karat gold (per gram) | 17,638,200 tomans | +0.93% |
| Emami coin | 178,485,000 tomans | +1.41% |
| Emami coin premium | ~4,376,000 tomans | re-widened |
| Global gold (spot) | ~$4,100 to $4,120 | little changed |
| Bitcoin | $63,866 | −0.74% |
The stock figures are as of today's official close (12:30, recorded around 12:38); the dollar, gold, coin and crypto figures are as of midday (around 14:30 on Sunday, 21 Tir). Percentage changes are versus Saturday's close (20 Tir).
Today's headlines
- A fifth red day for stocks: per market data, the main index fell 2.51% today and lost the 5.1-million-point channel; capital-market reports indicated roughly 85% of symbols closed lower.
- Gold and coins bounced back: after Saturday's sharp drop, a gram of 18-karat gold rose 0.93% today and the Emami coin gained 1.41%, with the coin premium widening again.
- Exchange-Center rates rose: per market reports, at Iran's Currency and Gold Exchange Center the transfer-dollar sell rate reached 149,327 tomans (up 178 tomans), the euro 170,609 tomans, and the UAE dirham about 40,612 tomans.
- Brent above $76: Brent crude held near $76, close to its recent multi-week high; the geopolitical risk premium tied to the Strait of Hormuz continues to weigh on oil.
- The car-pricing dispute is still open: the Competition Council has called the Industry Ministry's approved 15% factory-price increase insufficient, and the file is with oversight bodies.
Stocks
The first part of today's story was the continued selling pressure in equities. The TSE main index closed down 126,965 points (2.51%) at 5,055,648, and the Iran Fara Bourse index also fell 2.22% to 39,104. This is the fifth losing session in a row, and the index has slipped below the mid-5.1-million channel it touched at the start of the week. The main driver is the same as recent days: the return of geopolitical risk to equity pricing and an outflow of retail (real-person) money in reaction to regional tensions. A key point for understanding today's divergence is that when retail investors exit equities, part of that liquidity moves toward safer assets such as gold, coins and foreign currency, which is exactly what today's gold and coin figures show. (This is analysis, kept separate from the facts; follow the index on the TEDPIX page.)
Currency
After Saturday's retreat, the free-market dollar edged up today, rising about 0.73% into the 179,000-toman range; intraday quotes at some bureaux fluctuated between 178,000 and 179,500 tomans. On the official side, the transfer-dollar sell rate at Iran's Currency and Gold Exchange Center rose 178 tomans to 149,327 tomans. That keeps the gap between the free and Exchange-Center rates at around 30,000 tomans (close to 20%). Another signal from the domestic crypto market: the Tether rate was about 178,573 tomans, slightly below the free-market dollar; that narrow gap suggests currency-buying pressure is not accelerating, even though the overall direction today was up. You can track live rates on the currency page.
Gold and coins
The second part of today's story was the rebound in the yellow metal. A gram of 18-karat gold rose 0.93% to 17,638,200 tomans, and the Emami coin gained 1.41% to trade around 178.5 million tomans. The key point for households is the re-widening of the Emami coin premium: after compressing to about 3 million tomans on Saturday, the premium widened again today to roughly 4.4 million tomans, per Sahmino data. That means the coin rose more than melt gold today, because both the base gold price climbed and coin-specific demand revived. Globally, spot gold was little changed in the $4,100 to $4,120 range, so the main driver of today's rise in domestic coins and gold was not a global jump but the return of domestic demand and a slightly higher dollar. (See how coin and gold prices are built in this explainer.)
Crypto
The global crypto market was slightly red today: Bitcoin traded around $63,866 (down 0.74%) and Ether near $1,799 (down 1.43%). The domestic Tether rate was about 178,573 tomans. Because the toman price of cryptocurrencies embeds the dollar rate, part of this market's toman swings reflects the currency's move rather than the global price alone; today, with the dollar slightly up but global prices lower, the net effect for domestic holders was roughly neutral.
Iron, steel and commodities
The steel market was relatively calm. Size-10 ribbed rebar (A3, ex-works at Aryan Foulad) traded around 67,270 tomans per kilogram today, with sizes 12 and 14 in the 65,900 to 66,000 range, near Saturday's levels. Domestic steel pricing depends on two drivers: the exchange rate and global steel and raw-material prices. With oil staying high and the dollar choppy, there is no clear signal of a sharp near-term jump or drop in rebar for now.
Cars
The car-pricing file remains open: the Competition Council has called the Industry Ministry's approved 15% factory-price increase "insufficient," and the matter is with oversight bodies. Until factory prices are settled, the market margin (the gap between the open-market price and the factory price) on in-demand models stays choppy, and part of it is tied to the path of the exchange rate.
Building materials
The building-materials market logged no fresh, reliable price news today and was quiet. Its main drivers remain seasonal construction demand and energy costs; with the dollar's limited swings in recent days, a fresh jump in cement and import-linked materials looks unlikely in the short term.
Regional and global backdrop
In global markets, Brent crude held near $76, close to its recent multi-week high; that elevated level reflects Strait of Hormuz tensions and matters for Iran's currency revenue and refinery stocks. Spot gold was in the $4,100 to $4,120 range and the U.S. dollar index (DXY) was around 100 and relatively soft; a weaker dollar typically supports the global gold price. In the neighborhood, the dollar-Turkish lira rate was around 47.1 (the lira still under pressure), and the dollar was about 6.78 against China's yuan (the yuan slightly firmer); these rates reach Tehran through import costs and the price of imported goods. The UAE dirham also rose at the Exchange Center today, to about 40,612 tomans, which matters for the import trade via the Persian Gulf. Bottom line: geopolitical tension is keeping oil elevated, and that same risk premium explains part of the return of gold and coin demand at home.
What to watch today and tomorrow
The key question for the next trading session is whether the five-day selling wave finds a floor or continues; whether sell queues clear will be the first sign. In gold and coins, watch the coin premium: its re-widening is a sign of returning speculative demand. Globally, U.S. consumer inflation (CPI) data is coming, which affects the path of the dollar and global gold, and any fresh news on the Strait of Hormuz and the ceasefire could move oil as well as the currency and gold markets. See scheduled events on the market calendar. This section is a watch list only, not buy or sell advice.
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