Syrian Gold Prices Hold Steady Amid Global Market Volatility

Gold prices in Syria have remained steady as of October 1, despite fluctuations in global markets. The General Authority for Precious Metals Management reported that the selling price of 21-karat gold is SYP 16,300 ($133.61) per gram, unchanged from Wednesday's rate.

The buying price also remains at SYP 16,000 ($131.15) per gram, according to the authority's Thursday bulletin. For 18-karat gold, the selling price stands at SYP 13,950 ($114.34) per gram and the buying price at SYP 13,650 ($111.89).

The stability in Syria's gold prices can be attributed to the softer US inflation rate, which rose less than expected in August. This led to a decrease in the probability of an October Federal Reserve rate increase from 45% to 37%, according to markets.

However, higher Treasury yields and a firmer dollar have limited gains for gold, making it more expensive for buyers using other currencies. Rising yields also increase the opportunity cost of holding gold, which pays no interest.