Damascus/London, Sept. 29 (SANA) The selling price of 21-carat gold in Syria rose by 100 Syrian pounds ($0.82) per gram on Tuesday from a day earlier, while global gold futures recovered after opening near a seven-week low.
The General Authority for Precious Metals Management priced 21-carat gold at 16,150 Syrian pounds ($132.38) per gram for selling and 15,850 Syrian pounds ($129.92) for buying. Selling and buying prices for 18-carat gold were 13,850 Syrian pounds ($113.52) and 13,550 Syrian pounds ($111.07) per gram, respectively.
Internationally, Reuters reported earlier Tuesday that spot gold was steady at $4,124.57 an ounce, near its lowest level since Aug. 5, as investors awaited U.S. economic data amid concerns that the Federal Reserve could keep interest rates elevated for longer. U.S. gold futures were down 0.3% at $4,156.70 an ounce at the time of that report.
Yahoo Finance subsequently reported that December gold futures, which opened at $4,150.10 an ounce, had risen to $4,180.70 by 1033 GMT. It said Brent crude futures were at $97.51 a barrel at 1037 GMT, down from more than $101 at the same time on Monday.
Although oil fell Tuesday morning, earlier increases had added to inflation concerns and expectations that U.S. interest rates could remain elevated. Higher rates can weigh on gold because it pays no interest.
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