Local Gold Prices Remain Stable in Syria
Gold prices in the Syrian local market remained stable on Tuesday, maintaining the levels recorded during the previous session. According to the latest price bulletin issued by the General Authority for Precious Metals, the value of 21-karat gold has held firm, providing a baseline for transactions across the country’s provinces.
The official pricing for 21-karat gold is set at 16,200 Syrian pounds for sale, while the purchase price is fixed at 15,900 Syrian pounds. For 18-karat gold, which remains a standard in local jewelry manufacturing and trade, the price is listed at 13,900 Syrian pounds for sale and 13,600 Syrian pounds for purchase. These figures reflect the ongoing efforts by the newly established regulatory body to standardize domestic trade.
The General Authority for Precious Metals, which released the updated figures, was formally established on February 12, 2025. The institution was created as part of a broader economic framework aimed at formalizing and developing the precious metals sector. By operating as an institution that is both financially and administratively independent, the Authority is tasked with professionalizing the industry and strengthening its role within the national economy.
Central to the Authority’s mandate is the oversight of the gold pricing mechanism. This process is conducted in coordination with the various goldsmith associations active across Syria’s governorates, ensuring that pricing remains transparent and consistent for both retail buyers and traders. In addition to regulating internal market prices, the Authority is responsible for monitoring global trends and their impact on local gold values. The international market currently lists the price of gold per ounce at 4,392 dollars.
The stabilization of these prices is viewed as a key indicator of the current market climate for precious metals within Syria. As the General Authority for Precious Metals continues to implement its regulatory functions, traders and citizens alike are expected to rely on these official daily bulletins to navigate domestic market fluctuations. The integration of this oversight body represents a significant step in the Syrian government’s ongoing efforts to regulate domestic commodity markets and ensure better institutional control over the national economy.
