Syrian Gold Prices Steady Amid Global Market Decline

The price of 21-karat gold in Syria remained steady on Wednesday, with the General Authority for Precious Metals Management setting the selling price at 15,800 Syrian pounds ($129.51) per gram and the buying price at 15,500 pounds ($127.05).

In contrast, the selling price of 18-karat gold fell by 50 pounds to 13,500 pounds ($110.66), while the buying price declined by the same amount to 13,200 pounds ($108.20).

The global market saw a decline in spot gold, falling 0.1% to $4,323.59 an ounce after touching its lowest level since August 7. US gold futures for December delivery also fell, down 0.6% to $4,370.40.

Higher interest-rate expectations weighed on gold, with traders pricing in a 68% chance of a Federal Reserve rate hike this month according to the CME FedWatch Tool.