Syrian Gold Prices Drop by 400 Lira
Gold markets in Syria experienced a downward shift in prices during Monday’s trading session. The price per gram of gold decreased by 400 Syrian Lira compared to the figures recorded on Sunday. This adjustment occurs amidst ongoing fluctuations in local markets, which continue to be influenced by various economic factors.
According to the periodic bulletin issued by the General Authority for Precious Metals Management, the price for one gram of 21-karat gold has been set at 16,100 Syrian Lira for sale, while the purchase price is fixed at 15,800 Syrian Lira. Regarding 18-karat gold, the selling price was recorded at 13,800 Syrian Lira, with a purchase price of 13,500 Syrian Lira.
Gold prices in Syria are determined by several primary factors that shape the official bulletins released by the General Authority for Precious Metals Management. Chief among these variables are the fluctuations in gold prices within international markets, where the price of an ounce of gold reached $4,165 today. Additionally, local exchange rate movements and the internal dynamics of supply and demand, dictated by prevailing market conditions, play a critical role in the pricing process.
The Authority regularly issues these periodic bulletins to authorize buying and selling prices, ensuring the regulated trading of precious metals within the Syrian market. Gold remains a significant investment vehicle and a highly traded commodity within the country.
Source: Syria Focus Arabic
