Damascus, Sept. 1 (SANA) The price of a gram of 21-karat gold in Syria fell by 50 Syrian pounds on Tuesday from the previous day, according to the daily bulletin issued by the General Authority for Precious Metals Management.
The selling price of a gram of 21-karat gold reached 16,100 Syrian pounds ($131.97), while the buying price stood at 15,800 pounds ($129.51).
The selling price of 18-karat gold reached 13,800 Syrian pounds ($113.11), compared with 13,500 pounds ($110.66) for buying.
The authority said the global gold ounce price reached $4,371.
In international markets, gold fell more than 1% on Tuesday as higher US Treasury yields pressured bullion, while investors awaited key US labor-market data for signals on the Federal Reserve’s monetary policy outlook, Reuters reported.
Spot gold fell 1.8% to $4,369.24 an ounce by 1003 GMT, its lowest level since Aug. 19, while US gold futures declined 1.4% to $4,418.
US Treasury yields rose to their highest level since January 2025, amid heightened tensions in the Middle East, fueling inflation concerns and contributing to a global bond selloff.
Higher yields on the benchmark 10-year US Treasury note increased the opportunity cost of holding non-yielding gold. Traders were pricing in a 66% chance of an interest-rate hike later this month, according to the CME FedWatch Tool.
Investors are awaiting the US ADP employment report on Wednesday and nonfarm payrolls data on Friday for further indications on economic conditions and interest-rate policy.
Gold had reached a more than three-month high last week before falling more than 3% on Friday following hawkish comments by Federal Reserve Chair Kevin Warsh at the Jackson Hole symposium regarding the need for further action if inflation does not return to the central bank’s 2% target.
On the geopolitical front, US President Donald Trump threatened further strikes against Iran on Monday following the first exchange of direct attacks in a month, adding to regional tensions.
Among other precious metals, spot silver fell 2.8% to $64.64 an ounce, platinum declined 1.9% to $1,760.13, and palladium fell 2.2% to $1,327.
R.A/M.F
