Another Iranian Gold Story

Another Iranian Gold Story by Rory for The Daily Coin

We keep running into stories about physical gold in Iran. The sanctions issued against Iran by the western world hasn’t hurt the country in the way the governments thought it would. The “sanction” heard-round-the-world was the use of the SWIFT system against the Iranian people. Russia, China, India and Turkey are took note and all made massive changes to their internal and international policies. The policy changes were not just monetary but military changes as well. Theses changes are beginning to impact the global trade in ways no one thought possible. Another couple of years and these changes are going to be undeniable and their impact will be felt by everyone.

We have reported more on physical gold in Iran over the past 3-4 months than we have in the last 3-4 years. Not because we’re lazy or not looking for the information, it just didn’t exist. Now on top of everything else going involving gold in Iran, like Iranians using gold to pay rent or stacking physical gold for retirement we find smuggling of gold ore, not refined gold, but gold that needs to be separated from other materials and then refined! This raises a lot of questions. Why is gold ore being smuggled since it is incredibly bulky, unrefined and just doesn’t make a lot of sense carry around 10 tons of rock that produces approximately 550-600 ounces (35-40 pounds) of gold? Why is gold being smuggled out of Iran when the demand is so high for gold inside Iran?

Police in the northwestern Iranian city of Kharvana has busted 10,090 kg of gold ore, estimated to be worth 40 billion rials (more than 800,000 euros), that was to be smuggled out of the country.

A police commander in Varzaqan city, Colonel Qassem Nazari told the IRNA on Thursday that ore of the precious metal loaded on a truck was carried illegally out of the country, IRNA reported.

Over 10 tons of smuggled gold ore confiscated in NW Iran

Nazari said one person was arrested in that connection and handed over to the judiciary for further investigation.

It must have been stolen or was mined illegally. I can’t come up with any logical explanation for smuggling piles of rocks out of country that would require a substantial piece of equipment to haul all the waste material associated with gold ore.

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The Daily Coin

Rory Hall, The Daily Coin. Beginning in 1987 Rory has written over 1,000 articles and produced more than 300 videos on topics ranging from the precious metals market, economic and monetary policies, preparedness as well as geopolitical events. His articles have been published by Zerohedge, SHTFPlan, Sprott Money, GoldSilver, Silver Doctors, SGTReport, and a great many more. Rory was a producer and daily contributor at SGTReport between 2012 and 2014. He has interviewed experts such as Dr. Paul Craig Roberts, Dr. Marc Faber, Eric Sprott, Gerald Celente and Peter Schiff, to name but a few. Don't forget to visit The Daily Coin and Shadow of Truth YouTube channels to enjoy original videos and some of the best economic, precious metals, geopolitical and preparedness news from around the world.