THE ESTABLISHMENT OF GOLD COIN FUTURES MARKET AND ITS EFFECTS ON IRANIAN ECONOMY

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NADALI MOHAMMAD

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Paper Information

Journal: TREND (TREND OF ECONOMIC RESEARCH) Year:2014 | Volume:20 | Issue:63-64 Page(s): 141-168

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Information Journal Paper

Title

THE ESTABLISHMENT OF GOLD COIN FUTURES MARKET AND ITS EFFECTS ON IRANIAN ECONOMY

Author(s)

NADALI MOHAMMAD | Issue Writer Certificate

Keywords

FUTURES CONTACTQ2

GOLD COIN FUTURESQ2

FOREIGN EXCHENGE MARKETQ2

GOLD MARKETQ2

Abstract

Iran Merchantile Exchange introduced GOLD COIN FUTURES as a new financial tool since 2008. However the aim of this new financial instrument was to invite investors to deal futures in the exchange market, prevent capital outflow, unification of gold transaction in entire country, and inhibition of fictitious trade and counterfeit coin in the false markets. Though, this financial instrument was not initially embraced, but with the passage of time and the emergence of new conditions and volatility associated with fluctuations in foreign exchange and GOLD MARKET, suddenly the demand for buying and selling the new financial instrument increased significantly. As a result, the value of gold coin and number of futures contract, from 60.7 billion rials and 3.2 thousand in 2008, incresaed to 362815.7 billion rials and 33691.1 thousand in 2012, respectively. However the basic question is whether the performance of hedging of GOLD COIN FUTURES is the main reason for market to face the boom, or otherwise the acceptance of this instrument is, due to expansion of speculative activities of Iranian economy viz-a-viz the fluctuation of foreign exchange and GOLD MARKETs in the recent months. Hence, in this paper, an attempt is made to answer these quieries, through applying the descriptive statistical analysis of gold futures market. The results prima facie indicate that, introduction of gold coins futures in Iran Mercantile Exchange, has been instrumental tool for enhancing the speculative activities rather than the hedging of gold spot transactions,quid pro qua.

Cites

THE EFFECT OF GOLD COIN FUTURES ON THE SPOT MARKET VOLATILITY IN IRAN

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APA: Copy

NADALI, MOHAMMAD. (2014). THE ESTABLISHMENT OF GOLD COIN FUTURES MARKET AND ITS EFFECTS ON IRANIAN ECONOMY. TREND (TREND OF ECONOMIC RESEARCH), 20(63-64), 141-168. SID. https://sid.ir/paper/202223/en

Vancouver: Copy

NADALI MOHAMMAD. THE ESTABLISHMENT OF GOLD COIN FUTURES MARKET AND ITS EFFECTS ON IRANIAN ECONOMY. TREND (TREND OF ECONOMIC RESEARCH)[Internet]. 2014;20(63-64):141-168. Available from: https://sid.ir/paper/202223/en

IEEE: Copy

MOHAMMAD NADALI, “THE ESTABLISHMENT OF GOLD COIN FUTURES MARKET AND ITS EFFECTS ON IRANIAN ECONOMY,” TREND (TREND OF ECONOMIC RESEARCH), vol. 20, no. 63-64, pp. 141–168, 2014, [Online]. Available: https://sid.ir/paper/202223/en

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