Tehran’s Gold Bazaar Amidst Inflation Crisis: Citizens Turn to Gold as Currency Collapses

Introduction

In recent years, the global economy has undergone unprecedented upheaval driven by geopolitical conflicts, economic sanctions, and pandemic aftereffects. Among the many manifestations of economic instability, inflation rates have soared to levels unseen in decades, and traditional currencies have lost their value at alarming rates. One of the most vivid symbols of this crisis is Iran’s gold bazaar, where millions of ordinary citizens flock to buy gold as a hedge against currency devaluation and inflation.

This report explores the complex interplay between inflation, geopolitical tensions, and local economic responses, with a focus on the Tehran Gold Bazaar. We analyze how the collapse of the Iranian rial has transformed daily life, economic behaviors, and social stability in Iran, and draw parallels with other economies facing similar challenges.