Syrian Gold Prices Rise as Global Markets React to Weaker Dollar

The price of 21-carat gold has increased in Syria by SYP 100 per gram, according to a bulletin issued by the General Authority for Precious Metals Management. The new selling price is SYP 16,200 ($132.79) and the buying price is SYP 15,900 ($130.33).

The prices of other gold products have also changed: one gram of 18-carat gold can be sold at SYP 13,900 ($113.93) and bought for SYP 13,600 ($111.48).

On the international market, gold was trading at $4,397 per ounce.

The rise in gold prices is attributed to a weaker US dollar and positive US economic data that reduced expectations of a Federal Reserve rate hike next month.