Gold prices stabilized in Syria during evening trading today, Friday, May 14, 2021, despite the high global price of the precious metal.
Syria faces a complex crisis with regard to gold prices, as the decline in the local currency’s value has led to two gold prices in the country.
According to the official bulletin issued by the “Craft Society for Handcraft and Jewelry Making in Damascus”, the price of a gram of 21 carat gold in Syria settled this evening at about 153,000 pounds for sale, and 152,500 pounds for purchase.
While the price of a gram of 18 carat gold remained at about 131 thousand and 143 pounds for sale, and about 130 thousand and 643 pounds for purchase.
The price of a gram of 24 carat gold in today’s evening trading in the unofficial Syrian market was around 182,638 pounds for purchase, and 187,351 pounds for sale.
As for the price of a gram of 21 carat gold, it recorded about 159 thousand and 879 pounds for purchase, and 164 thousand and 5 pounds for sale.
The price of a gram of 18 carat gold in evening trading was 137 thousand and 120 pounds for purchase, and 140 thousand and 659 pounds for sale.
The price of a gram of 14-carat gold was about 116 thousand and 69 pounds for purchase, and 119 thousand and 64 pounds for sale.
Syria, where the conflict entered its eleventh year last month, is experiencing a stifling economic crisis exacerbated by Western sanctions and Coronavirus measures, as well as an accelerating economic collapse in neighboring Lebanon, where many Syrians, including businessmen, are depositing their money.
Globally, gold prices increased on Friday on the back of the dollar’s decline, but the gains were limited after data showed a rise in inflation in the United States, which fueled fears of a faster rate hike than expected.
Spot gold rose 0.2 percent to $ 1829.61 an ounce. US gold futures advanced 0.2 percent to $ 1,827.40.