Gold prices fell in Syria today, Sunday, October 3, 2021, coinciding with the weekend for global markets.
And the global gold markets on a weekend, Saturday and Sunday.
The average price of a gram of 24-carat gold in Syria fell to 198,402 thousand pounds.
The average price of a gram of 21 karat gold in Syria (the most traded in the market) also fell to 173,679 thousand pounds.
The average price of a gram of 18 karat gold in Syria fell to the level of 148,956 thousand pounds.
As for economic gold prices in Syria, the price of a gram of 14 karat gold was about 126,087 thousand pounds.
Gold price per ounce and pound
The price of an ounce in Syria was about 6.180 million Syrian pounds.
And the price of the gold pound in Syria (8 grams of 21 carat) fell to 1.390 million pounds.
global gold prices
Globally, the price of gold rose the day before yesterday, Friday (the closing of the week’s trading), as the decline of the dollar and concerns about rising inflation and risks to growth offset the impact of bets on raising interest rates that loomed on the horizon, which kept the metal on the path to achieving slight weekly gains.
Spot gold rose 0.1% to $1,758.58 an ounce by 1424 GMT. US gold futures rose 0.1% to $1,759.
The dollar fell, which made gold less expensive for holders of other currencies, which supported demand.
And gold is on its way to recording its first weekly gain since the third of September, up about 0.6% so far, as the dollar’s decline helped it recover about 2% yesterday.
Philip Strebel, senior market analyst at Blue Line Futures in Chicago, said that the dollar’s losses and low bond yields keep gold supportive, in a time when investors adjust their positions at the beginning of the fourth quarter of the year.
Supporting gold’s appetite, European and Asian stocks fell amid concerns about inflation and a possible slowdown in growth.