Syrian Gold Prices Fall as Global Market Awaits Fed Signals

The price of gold in Syria's market has fallen by 100 Syrian pounds from Wednesday to Thursday, according to the General Authority for Precious Metals Management. The selling price of 21-karat gold decreased to 16,800 SYP ($137.70) per gram, while the buying price was set at 16,500 SYP ($135.25) per gram. In contrast, 18-karat gold saw a slightly lower selling price of 14,400 SYP ($118.03) and a buying price of 14,100 SYP ($115.57). Meanwhile, in international markets, gold prices remained relatively steady ahead of the Federal Reserve's signals on monetary policy. Spot gold held at $4,590.21 an ounce after falling 1.4% on Wednesday.

The global gold price is currently set at $4,597 per ounce, with investors awaiting further clues from Fed Chair Kevin Warsh's speech at the Jackson Hole symposium on Friday. US data released earlier this week showed a 3.7% increase in the Personal Consumption Expenditures Price Index over the past 12 months. This has sparked concerns about dollar debasement and potential interest rate hikes, which could negatively impact gold prices.