Syrian Gold Prices Surge Amid Global Market Volatility

The General Authority for Precious Metals Management in Syria reported that gold prices have risen by 300 Syrian pounds per gram in the local market. This change was observed on Saturday, August 8th, compared to Thursday's prices.

The price of a gram of 21-karat gold has increased to 15,750 Syrian pounds for selling and 15,450 Syrian pounds for buying, while 18-karat gold reached 13,550 Syrian pounds for selling and 13,250 Syrian pounds for buying. The global market price of an ounce stood at $4,342.

The Authority was established in Syria on February 12, 2025, to regulate and develop the gold and precious metals sector. Its establishment aimed to enhance its role in the national economy and oversee gold pricing through goldsmiths' associations in the governorates within a financially and administratively independent institutional framework.

The global market has seen an increase in gold prices due to an unexpected decline in US nonfarm payrolls in July, reducing expectations of an interest-rate hike. Spot gold rose 2.3 percent to $4,336.02 per ounce, while US gold futures increased 2.3 percent to $4,399.70.