Damascus, Aug. 18 (SANA) Gold prices remained stable in the local market Tuesday, with 21-karat gold unchanged from the level recorded Monday.
According to Tuesday’s bulletin from the General Authority for Precious Metals Management, a gram of 21-karat gold was priced at SYP 16,200 ($132.79) for selling and SYP 15,900 ($130.33) for buying.
A gram of 18-karat gold stood at SYP 13,900 ($113.93) for selling and SYP 13,600 ($111.48) for buying, while an ounce of gold on the global market was priced at $4,392.
The General Authority for Precious Metals Management in Syria was established on Feb. 12, 2025, to regulate and develop the gold and precious metals sector, strengthen its role in the national economy within a financially and administratively independent institutional framework, and oversee gold pricing through goldsmith associations in the provinces.
Meanwhile, global gold prices rose for a third consecutive session Tuesday as concerns eased over a potential U.S. interest rate hike next month, while investors awaited minutes from the Federal Reserve’s latest meeting for further indications on the direction of monetary policy.
Reuters reported that spot gold rose 0.4% to $4,431.09 an ounce, while U.S. gold futures for December delivery gained 0.3% to $4,487.70.
Most economists surveyed by Reuters expected the U.S. central bank to keep its key interest rate unchanged next month and through the end of the year.
Markets now see a roughly 65% probability that the Federal Reserve will leave interest rates unchanged, after previously betting on a quarter-percentage-point increase at its September meeting. The shift followed data showing unexpected job losses last month, weaker-than-expected consumer price inflation and sluggish retail sales.
F.J./MF
