Iranians have been making gold ornaments for nearly seven thousand years. In addition to Iran, the Indians and Egyptians are also pioneers in producing jewelries with the yellow metal.

Ingot Shortage - Iranian craftsmen are facing a shortage of ingots. Official figures about the volume of gold ingot imported are not available. However, no one can deny the smuggling of gold ingots, mostly in the form of carry-on-luggage, into the country. One reason for smuggling is the high import tariff rate given that the duties on gold..

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