Gold prices in the Syrian market recorded a slight decrease of 500 Syrian pounds per gram of 21 carats, compared to the prices recorded yesterday, Wednesday.
According to the circular issued by the General Authority for Precious Metals Management, the price of a gram of 21-carat gold was set at 17,700 pounds (in the new currency) for sale, and 17,300 pounds for purchase.
As for the gram of 18-carat gold, it stabilized at 15,150 pounds for sale and 14,750 for buying pounds. In terms of global trading, the price of an ounce today was recorded at 4,811 USD.
Gold Weekly Path
Looking at the market movement over the past seven days, we find that Syrian gold has experienced a state of instability, after 21 carat recorded levels close to 18,300 pounds yesterday, it has returned today due to slight changes in the exchange rate of the Syrian pound locally.
According to economic analysts, the weekly performance of the gold market shows that it is still moving in "cautious territory" as a result of geopolitical tensions in the region, which make daily pricing vulnerable to rapid changes.
Global gold. A historic leap
In contrast to the slight domestic decline, global markets are on fire with record increases, with an ounce of gold today hitting an exceptional price of $4,811 (and in some spot transactions as high as $4,830).
The jump is driven by the growing demand for the yellow metal as a safe haven amid oil supply chain disruptions and tensions in the Strait of Hormuz, which has made the ounce break price barriers that markets have never seen before.
It is worth mentioning that the General Authority for Precious Metals Management in Syria is responsible for regulating and developing the precious metals sector, enhancing its contribution to the national economy through an independent institutional framework, and directly supervises the pricing mechanism adopted through goldsmiths' associations in various Syrian governorates to ensure market stability and consumer protection.