Damascus, Sept. 2 (SANA) The price of a gram of 21-karat gold in the Syrian market remained unchanged Wednesday from Tuesday, according to the General Authority for Precious Metals Management.
The authority set the selling price at 15,800 Syrian pounds ($129.51) per gram and the buying price at 15,500 pounds ($127.05). The selling price of 18-karat gold fell by 50 pounds to 13,500 pounds ($110.66), while the buying price declined by the same amount to 13,200 pounds ($108.20).
The authority priced an ounce of gold in the international market at $4,323.
Internationally, spot gold fell 0.1% to $4,323.59 an ounce by 0826 GMT Wednesday after touching its lowest level since Aug. 7. US gold futures for December delivery fell 0.6% to $4,370.40, Reuters reported.
The dollar rose to a two-week high amid renewed Middle East tensions and inflation concerns, while higher interest-rate expectations also weighed on gold. Traders were pricing in a 68% chance of a Federal Reserve rate hike this month, according to the CME FedWatch Tool.
Investors were awaiting the US ADP employment report on Wednesday and nonfarm payrolls data on Friday for indications about the economy and the Federal Reserve’s monetary policy path.
Among other precious metals, spot silver fell 0.3% to $64.04 an ounce, platinum declined 0.6% to $1,729.83 and palladium slipped 0.5% to $1,304.50.
R.A/M.F