Syrian Gold Climbs 100 Pounds as Global Prices Stabilize

The selling price of a gram of 21-karat gold in Syria reached 16,100 Syrian pounds. This represents a 100-pound increase compared to Saturday's figures. The buying price stood at 15,800 Syrian pounds. These values were reported by the General Authority for Precious Metals Management.

International gold prices also showed signs of stabilization. Spot gold rose 1.1% to $4,363.01 per ounce on Friday. However, the metal remained down 1.5% for the week. US gold futures settled nearly unchanged at $4,408.90 per ounce.

Local market rates for lower karat gold

The selling price of 18-karat gold was set at 13,800 Syrian pounds. The buying price for this alloy stood at 13,500 Syrian pounds. The General Authority for Precious Metals Management issued these figures on Sunday. The data reflects the current state of the Syrian precious metals market.

Inflation data drives Fed rate hike bets

US inflation data influenced global trading decisions. The Consumer Price Index rose 0.4% in August. This followed a 0.1% increase in July. The Producer Price Index also showed expected increases in August.

Traders adjusted their expectations for Federal Reserve policy. The probability of a rate hike at the next meeting rose to 87%. This is up from 67% before the new data was released. Higher interest rates typically reduce the appeal of non-yielding assets like gold.

Silver and platinum show mixed weekly trends

Spot silver increased by 1.6% to $64.54 per ounce. Despite this daily gain, silver remained down 2.6% for the week. Platinum gained 1% to reach $1,792.11 per ounce. Palladium rose 2.1% to $1,308.63 per ounce.

Both platinum and palladium are on track for weekly losses. The global ounce price for gold stood at $4,348 in recent reports. These figures were sourced from international market data via Gold (Google News). The broader precious metals complex remains volatile amid shifting monetary policy signals.