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Aug 5, 2018

Iranians hoard gold ahead of renewed U.S. sanctions

Submitted by cpowell on 01:53AM ET Monday, August 6, 2018. Section: Daily Dispatches
By Asa Fitch and Aresu Eqbali
The Wall Street Journal
Sunday, August 5, 2018
Iranians are hoarding gold as a safeguard against a collapsing local currency and soaring cost of living as the United States is poised to impose economic sanctions on Iran, pushing the metal's price to records in Tehran.
On Tuesday just after midnight U.S. Eastern time, the Trump administration is set to bring back a first wave of restrictions that had been waived under the Iran nuclear deal, an Obama-era agreement that gave Iran sanctions relief in exchange for curbs on its nuclear program.