Exportation of gold starts to some Arab markets

Damascus, SANA – Chairman of the Association of Goldsmiths and Jewelry Making Ghassan Jazmati said goldsmiths have started this week exporting Syrian gold jewelry to some Arab countries with which Syria has economic relations.

After a month from exportation, the goldsmith, Jazmati stressed, has to import an amount of gold ore into the country that is equal to the one exported.

The goldsmith has to pay USD 100 to the Central Bank of Syria for each kilogram of the imported gold, he added, speaking to SANA Economy Bulletin.

Jazmati noted that the Association is preparing to participate in Dubai Exhibition due to be held next April, as it has facilitated procedures in coordination with those in charge of the exhibition to reserve exhibit spaces for the participating jewelry.

He affirmed considerable stability of the Syrian gold market, particularly in terms of selling, noting that the purchases have been mainly limited to the pounds and ounces.

As for the prices set for Thursday, Jazmati said the price of the Syrian Lira gold coin is SYP 55,100, while the Syrian ounce is SYP 241,185.

The price of the 21 Karat English Pound gold coin was set at SYP 55,100, and the 22 karat gold coin at SYP 57,100.

The price of one gram of 21 karat gold was set at SYP 6,700 and that of one gram of 18 karat gold is SYP 5,743.

Jazmati struck a confident note when he commented on the number of goldsmiths who have been back to work during 2014, stressing that according to statistics of the Association the number has reached 700 compared to no more than 200 in 2012.

This increase, he said, is an indication of the stability of the market and that the situation has become better than the past few years.
Rasha Milhem/Haifa Said