Damascus, Sept. 8 (SANA) The price of 21-karat gold in the Syrian market remained unchanged from Monday, according to a bulletin issued Tuesday by the General Authority for Precious Metals Management.
The selling price of 21-karat gold stood at 16,100 Syrian pounds ($131.97) per gram, while the buying price was 15,800 pounds ($129.51).
A gram of 18-karat gold was priced at 13,800 Syrian pounds ($113.11) for selling and 13,500 pounds ($110.66) for buying.
The Authority set the global reference price for gold at $4,395 an ounce.
In international trading, spot gold slipped 0.1% to $4,399.99 an ounce by 1024 GMT after touching $4,442.70 earlier in the session, Reuters reported. US gold futures for December delivery fell 0.7% to $4,444.50.
Gold came under pressure as rising oil prices fueled inflation concerns and strengthened expectations that the US Federal Reserve could raise interest rates. A weaker dollar, however, provided some support by making dollar-denominated bullion less expensive for overseas buyers.
Traders priced in about a 60% chance of an interest-rate increase at the Fed’s next policy meeting, up from roughly 50% before stronger-than-expected US employment data released Friday.
Investors are awaiting US producer price data Thursday and consumer price figures Friday for further indications of the Federal Reserve’s monetary policy outlook.
Among other precious metals, silver fell 0.1% to $66.08 an ounce and palladium declined 0.4% to $1,387.43, while platinum gained 0.6% to $1,836.72.
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