from Gold Core:
Currency wars are set to continue and deepen which will support gold.
The United States government is to rigorously enforce a ban on gold sales to Iran from July 1.
They are planning to block sales of gold to Iranians in order to undermine the Iranian currency, the rial, and to step up pressure on Tehran over its nuclear program, U.S. officials said yesterday according to Reuters and Bloomberg.
The Iranian rial is the official currency of the Islamic Republic of Iran. The conventional market quotation is the number of rials per U.S. dollar. The rial is a fiat currency which like most paper currencies today is a managed, floating currency. The Central Bank of Iran has abolished the multi-tier exchange rate regime and established a single rate in its place.
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