18K Gold per gram (IRR) Reaches 30-Day High, Extends Gains
18K Gold per gram (IRR) closed higher on August 18, marking its highest closing price in the last 30 days. The instrument extended its gains for a second con...
Market Summary
18K Gold per gram (IRR) closed higher on August 18, marking its highest closing price in the last 30 days. The instrument extended its gains for a second consecutive session, with the daily close settling above its opening price.
Interactive price chart
Market Analysis
On August 18, 18K Gold per gram opened at 192,301,000 IRR and closed at 193,040,000 IRR, reflecting a daily increase. The session saw the price reach a high of 193,344,000 IRR, while the low for the day was recorded at 192,059,000 IRR. This session high also aligns with the identified resistance level.
The market structure indicates a bullish trend for the instrument. The current price is trading above its 20-day, 50-day, and 200-day Simple Moving Averages, reinforcing this positive outlook across short, medium, and long-term timeframes. The latest close represents the highest recorded closing price over the past 30 days. While the price is significantly above its 52-week low by approximately 63%, it remains about 13.8% below its 52-week high. Over the past month, the price has shown an upward trajectory, rising from 178,787,000 IRR on July 27 to its current level.
Technical Highlights
Several technical indicators support the observed market strength. The 14-period Relative Strength Index (RSI) is at 64.73, indicating positive momentum without entering overbought territory. The Moving Average Convergence Divergence (MACD) shows its line above the signal line, accompanied by a positive histogram, which further suggests bullish momentum.
The Average Directional Index (ADX) stands at 26.01, signifying a trending market. The Plus Directional Indicator (+DI) at 30.46 is notably above the Minus Directional Indicator (-DI) at 12.92, underscoring the strength of the bullish direction. Furthermore, the price is trading near the upper Bollinger Band and at the upper boundary of the Donchian Channel, both observations consistent with strong upward price action. The Supertrend and Parabolic SAR (PSAR) indicators are positioned below the current price, confirming the prevailing uptrend.
Conclusion
18K Gold per gram (IRR) concluded the August 18 session with a gain, achieving its highest close in 30 days and extending a two-day advance. The overall market trend is identified as bullish, supported by the price trading above key moving averages and positive momentum indicators. The available market data alone do not indicate the underlying cause of the observed price movement.
Live rates
Track the latest 18K Gold per gram (IRR) session on Iran Market Data.