Global Gold Prices Surge to Three-Month High Amid Weaker US Dollar

The price of gold has surged globally to its highest level in over three months as investors await key economic indicators. According to Reuters, the US dollar's weakness has boosted demand for gold, causing prices to rise. In Syria, the price of 21-karat gold increased by 200 Syrian pounds on Monday, reaching a selling price of 17,000 pounds ($139.34) and a buying price of 16,700 pounds ($136.89).

The international price of an ounce of gold stood at $4,649, with spot gold rising 0.7% to $4,635.25 and US gold futures increasing by 0.2% to $4,691.10.

Markets are anticipating the release of July's Personal Consumption Expenditures price index on Wednesday and Federal Reserve Chairman Kevin Warsh's speech at Jackson Hole this Friday. Traders expect a September rate hike with a 36% probability and unchanged rates with a 64% chance, according to CME FedWatch.