Iranian Oil bourse Inaugurated, enables trading in oil and gas using Euros - late October 2009

The oil bourse is intended as an exchange market for petroleum, gas, and petrochemicals in various currencies, primarily the euro and Iranian rial, and a basket of other major currencies.

If the bourse becomes a popular medium of exchange this is likely to further weaken the US dollar and is bullish for Gold and Silver.  

Read the full article at : www.tehrantimes.com/index_View.asp

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