Opening of local markets. The dollar rises to 12,870 pounds

The local markets opened their trading for the current week on Saturday in the wake of the return of fluctuations in the exchange rate, as the US dollar recorded a slight increase to reach the level of 12,870 Syrian pounds.

The jump in price comes to curb the optimism that prevailed last week following news of the regional calm, which indicates that markets are still in a "pulse phase" waiting for the political truce to be transformed into tangible commodity flows and a real reduction in shipping and insurance costs.

Market Sensitivity and Purchasing Power Challenges

Although the Central Bank of Syria (CBS) continued its balanced monetary policy to maintain the stability of official prices, the parallel market showed excessive sensitivity to logistical variables.

Observers believe that the delay in the reflection of lower energy costs and transport fares on commodity prices is due to the anticipation of the outcome of the final regional negotiations.

According to a report by Al-Watan newspaper  , this scene puts the purchasing power of the citizen under a new test, especially with some traders continuing to price their goods based on the previous peak of the rise, ignoring the signs of a détente in international shipping routes through the Strait of Hormuz.

The Gold Market: The Paradox of Global and Local Price

Globally, the yellow metal witnessed a strong price correction wave on Saturday, as the ounce fell by 0.92 percent, losing about $44.23 to settle at $4,748.725.

Despite this significant global decline, the rise in the local exchange rate contributed to maintaining high price levels for gold in the Syrian market, with a very slight decline recorded in official bulletins.

Accordingly, the Directorate of Precious Metals set the purchase price of a gram of 21 carat gold at 16,900 Syrian pounds and its selling price at 17,250 Syrian pounds.

As for the gram of 18 carat gold, its price was recorded at 14,450 pounds for purchase and 14,800 pounds for sale. As for 24-carat gold, the selling price was stable at 19,700 Syrian pounds compared to 19,350 Syrian pounds for the purchase price.

As for the dollar-denominated prices,   the price of a gram of 21 carat was recorded about 134 dollars, and the price of 18 carat was about 115 dollars, while the sale of 24 carats reached 153 dollars.

The most prominent challenge in the coming days is the extent to which regulatory measures and monetary policies are able to align price movements in the markets with regional breakthroughs, to ensure that the impact of lower import costs is not lost in the mazes of safety pricing margins imposed by traders.