Iran Market Pulse: Sunday Morning, July 5, 2026

Lead

Sunday, 14 Tir 1405 (July 5, 2026) is the second day of an unprecedented three-day closure of all four pillars of Iran's capital market, the Tehran Stock Exchange, Iran Fara Bourse, Iran Mercantile Exchange (IME) and Iran Energy Exchange, for the state funeral of Iran's former Supreme Leader. Under a resolution of the Supreme Council of the Stock Exchange, trading resumes on Tuesday, 16 Tir (July 7). At the same time, OPEC+ holds its monthly meeting today on August production levels, with Brent crude trading near a multi-month low of about $72 a barrel. In parallel markets that kept operating through the closure, the free-market dollar held around 175,400 tomans on Saturday, 13 Tir, and Bitcoin climbed back above $63,000.

Today at a Glance

Today's Headlines

• All four of Iran's capital-market pillars are closed from Saturday, 13 Tir through Monday, 15 Tir 1405 for the state funeral of Iran's former Supreme Leader; the Securities and Exchange Organization says trading resumes Tuesday, 16 Tir (source: Securities and Exchange Organization, 10 Tir 1405).
• OPEC+ holds its monthly meeting today, Sunday 14 Tir, on August production levels; the outcome has not yet been announced (source: Sahmino market calendar, 14 Tir 1405).
• An extraordinary assembly of National Iranian Copper Industries on a capital increase, originally set for Saturday 13 Tir, was postponed due to the market closure (source: Bourse24, 13 Tir 1405).
• Khorasan Steel's ordinary general assembly was held Wednesday, 10 Tir in Mashhad, the same day the weekly session closed with the index up (source: Nabz-e-Bourse, 10 Tir 1405).
• Factory prices on some domestic cars rose from the start of Tir, while free-market prices for several popular imported models have fallen as much as 17% from their Ordibehesht peak (source: Fararu, Tir 1405).

Currency

The official exchange center continues to post rates through the market-closure days, but the latest confirmed official "agreed" (tavafoghi) dollar rate is from Tuesday, 9 Tir 1405: 147,305 tomans (sell) and 145,979 tomans (buy); the euro stood at 168,271 tomans. These figures continue a gradual multi-day uptrend, from 146,138 tomans on 2 Tir to 146,957 tomans on 8 Tir and 147,305 tomans on 9 Tir.

In the free market, which keeps trading through official holidays, the dollar traded around 175,400 tomans on Saturday, 13 Tir, little changed from recent days, while the euro stood near 200,760 tomans. The gap between the free-market and official rates remains around 28,000 tomans, a structural feature of the country's dual exchange-rate system.

On policy, economic reports indicate the Central Bank of Iran has kept the acceptance rate on its open-market operation bids below 20% for a second consecutive week (through around 8 Tir), a trend observers read as a tighter liquidity stance.

Gold and Coin

18-karat gold traded around 17,462,000 tomans per gram in the domestic market on Saturday, 13 Tir; economic outlets disagreed on the day's direction, with some reporting a small gain and others a small decline, though the overall level has changed little in recent days. The Emami coin traded around 177,990,000 tomans the same day, and the full Bahar Azadi coin around 172,580,000 tomans.

Globally, spot gold (XAU) traded in a range of $4,170 to $4,176 an ounce, near its historic highs; safe-haven demand tied to regional geopolitical tension and expectations of a cautious US Federal Reserve stance are cited as the main drivers behind the price holding near this elevated level. The relative alignment of domestic gold with this global trend, together with the free-market dollar level, helps explain the recent stability in the gram price.

Stocks

The Tehran Stock Exchange, Iran Fara Bourse, Iran Mercantile Exchange and Iran Energy Exchange are closed today, Sunday 14 Tir, for a second consecutive session, with trading set to resume Tuesday, 16 Tir under the Supreme Council of the Stock Exchange's resolution. The last trading session before the closure, Wednesday 10 Tir, ended with TEDPIX up 59,624 points (1.16%) to 5,187,258 points; the equal-weight index rose 19,661 points to about 1.361 million, with roughly 85% of listed symbols trading higher and nearly 1.8 trillion tomans of real-money inflow into the equity market. The Fara Bourse index gained 607 points the same day to about 39,770.

This three-day closure is the second major halt to Iran's capital market in the 1405 (2026-27) year, following an approximately 80-day closure from Esfand through Ordibehesht triggered by escalated military tensions. Alongside the current closure, National Iranian Copper Industries' extraordinary capital-increase assembly, originally set for Saturday 13 Tir, was postponed, while Khorasan Steel held its ordinary general assembly in Mashhad before the closure, on Wednesday 10 Tir.

Crypto

After a volatile week, Bitcoin reached about $63,121 on Saturday, 13 Tir (July 4, 2026), a notable gain from about $61,565 the day before. Ethereum, after a roughly 6.4% jump to about $1,719 on Friday, traded around $1,795 on Saturday. In the US crypto ETF market, inflows turned positive in early July following a weak stretch in May and June; BlackRock's Ether ETF alone drew about $29.7 million, and Bitcoin ETFs logged a five-day consecutive inflow streak.

Domestically, Tether (USDT) traded around 175,800 tomans on Iranian exchanges on Saturday, 13 Tir, continuing this week's uptrend from about 172,849 tomans on Tuesday, 9 Tir, a rise that has tracked the domestic free-market dollar level.

Steel

The Iran Mercantile Exchange, the main venue for official steel product supply, is inactive during the current closure. In the latest reports before the closure, the domestic rebar price index fell between 1.8% and 5.4% month-on-month in Khordad 1405, with alloyed rebar down about 4% to 5%; IME offerings in Khordad included roughly 71,600 tons of rebar at a base price of 597,269 rials and nearly 97,250 tons of sponge iron at a base price of 304,153 rials. Reports from the past week noted the physical rebar market had gone roughly two weeks with no material change, while I-beam prices rose by about 2,000 tomans on currency swings.

Cars

Factory prices on some high-volume domestic models, including the Dena Plus Automatic reaching about 2.53 billion tomans, rose from the start of Tir 1405. By contrast, free-market prices for some imported models have fallen from their Ordibehesht peak; the Tiggo 8 Pro Max, for example, is down about 170 million tomans to roughly 8.1 billion tomans, and the Tiggo 7 Pro Max AWD is down about 150 million tomans to roughly 6.5 billion tomans, putting the free market's retreat from its Ordibehesht peak at about 17%. Per Fararu, the market remains described as stagnant, with many buyers waiting on currency and negotiation developments.

Building Materials

Bulk cement prices in the domestic market were reported largely stable on Saturday, 13 Tir: Sufian type-2 bulk cement around 281,000 tomans per ton, Saveh type-2 bulk around 253,000 tomans, and Abyek type-2 bulk around 255,000 tomans. Industry reports say continued weekly cement deposit-certificate supply on the commodity exchange, alongside exchange-based price discovery, has helped prevent a pricing crisis during the recent period of industrial power rationing and gas cuts, though the exchange itself is closed during the current holiday.

Global Backdrop

Brent crude traded around $72 a barrel in thin Friday (July 3) trading, held back by the US Independence Day holiday; WTI traded near $69 the same day, after falling about 2% to roughly $67 on Thursday. Both remain near multi-month lows. Market reports tie some of the pressure on oil to a gradual recovery in tanker traffic through the Strait of Hormuz alongside reported progress in Doha-mediated talks between Iran and the United States. OPEC+ holds its monthly meeting today, Sunday 14 Tir, on August production levels.

The US Dollar Index (DXY) stood around 100.8, after a weaker-than-expected June US jobs report. The Federal Reserve, at its meeting on 27 Khordad (June 17), the first for new chair Kevin Warsh, held rates steady at 3.50% to 3.75% in a 12-0 vote and dropped rate-cut language from its statement; most members see a possible hike by year-end, and the median 2026 rate projection rose to 3.8% from 3.4% in March, a shift observers largely attribute to inflationary pressure from energy prices tied to regional military tensions. At the ECB forum in Sintra, Portugal (10 Tir), Warsh said inflation remains "too high."

In US equities, the Dow Jones closed Thursday (July 2) up 1.14% at a fresh record of 52,900 points, while the S&P 500 was little changed and the Nasdaq 100 fell about 1.61% on semiconductor-sector selling; US markets were closed Friday for Independence Day.

What to Watch Today

• The outcome of today's OPEC+ meeting on August production levels and the oil market's reaction.
• Continued Doha-mediated talks between Iran and the United States and any effect on Strait of Hormuz shipping and regional risk.
• The reopening of all four capital-market pillars on Tuesday, 16 Tir, and the index's first reaction after three closed sessions.
• The continuation of the funeral and burial proceedings through 18 Tir and any additional closures formally announced.

The items above are offered strictly for observation and awareness, and do not constitute trading advice.

Disclaimer

This report 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 since publication; verify information from current, credible sources before making any financial decision.