explained why.
The Iranian Student News Agency reported that Iran imported 22 tons of gold ingot worth more than $855 million in the first four months of the current Persian year.
That was an 81,000 percent rise in tonnage compared to the same time frame last year.
Gold prices were rising during that import period, but then settled back. Recently, however, the price of gold has skyrocketed and Iran has made a hefty profit in recent weeks.