Commodities
Syrian Gold Price Rises as Global Futures Recover from Seven-Week Low
The price of 21-carat gold in Syria rose by $0.82 per gram on Tuesday, following a global recovery from its lowest level in seven weeks.
The General Authority for Precious Metals Management priced 21-carat gold at 16,150 Syrian pounds ($132.38) per gram for selling and 15,850 Syrian pounds ($129.92) for buying.
In contrast to the stability of spot gold, which was steady at $4,124.57 an ounce near its lowest level since August 5, U.S. gold futures were down 0.3% at $4,156.70 an ounce.
The slight increase in gold prices may have been influenced by rising oil prices earlier this week, which added to inflation concerns and expectations that the Federal Reserve could keep interest rates elevated for longer.