Tehran Gold Union Head Reports Falling Demand and a Shift to Melted Gold

Nader Bazrafshan, head of the Tehran Gold and Jewellery Union, told EcoIran at the Isfahan gold and jewellery fair that the rise in gold prices to around 23 million tomans per gram, together with the country's economic conditions, has reduced people's purchasing power and cut demand. He said buyers seeking to spend less have increasingly turned to melted gold, which carries no manufacturing fee. The interview was published on the morning of Thursday, September 24, 2026.

Bazrafshan warned that some buyers are not sufficiently aware of the potential risks of buying melted gold, and cited the spread of platforms selling melted gold as a factor behind lower jewellery production and demand. On a proposal to lower the purity of gold jewellery, he said the idea has been raised among officials but remains only a proposal, and that any decision needs infrastructure and planning; options include changing the weight of pieces or adding a new purity grade to the existing standards.