A Remarkable Decrease is Recorded by the Selling Price of a Gram of Gold in the Syrian Market

Today, Saturday, May 22, 2021, gold prices recorded a significant decrease in black market transactions throughout the Syrian governorates.

The selling price of a gram of gold, which is popular in the local markets, or what is known as the black market, decreased by about 3500 Syrian pounds, compared to the price recorded yesterday.

The selling price of a 21-karat gram of gold had reached the limit of 172,000 Syrian pounds per gram on Thursday evening.

So the price of the gram returns during today’s trading to levels lower than the 166 thousand pounds, in conjunction with the remarkable improvement in the Syrian pound during the past 48 hours.

As for the official gold prices in Syria, the Association of Goldsmiths and Jewelry Manufactures in Damascus has kept the official price for selling a gram of gold without any change from the prices recorded in the two previous publications.

The association set the selling price of one gram of 21 carats in its official bulletin issued this afternoon at about 157 thousand Syrian pounds.

As a result of the new prices recorded this evening, the difference between the official price of a gram of gold and its price on the black market is about 9 thousand Syrian pounds.

This came after the difference between the official and traded prices reached about 15 thousand Syrian pounds, and that last Thursday evening.

The Goldsmiths Association issued a new circular on Thursday after the difference between the two prices widened, in which it warned craftsmen against selling or buying gold coins from citizens at prices different from the official bulletin issued by it.

And  confirmed that any craftsman will enter a thousand instructions will be subjected to legal procedures that may amount to closing the shop and paying large fines.

The following are the official gold prices in the Syrian market today, Saturday May 22, 2021, as mentioned in the bulletin issued by the “Goldsmiths Association”:

The price of a gram of 21 carat gold was recorded: 157,000 Syrian pounds for sales, and 156,500 Syrian pounds for purchase.

While the price of a gram of 18 carat gold: 134,571 Syrian pounds for sales, and 134,071 Syrian pounds for purchase.

Read also: A record high recorded by the Syrian pound against the dollar and foreign currencies, and a decrease in gold prices locally

And by moving to the gold prices recorded this evening on the black market, the selling price of gram recorded a remarkable decrease in all Syrian cities.

The price of gold in the local markets during the past few hours was clearly affected by the increase recorded by the Syrian pound against the dollar and the rest of foreign currencies, as its exchange rate returned to the limits of 3100 pounds to the dollar this morning.

The following are the gold prices recorded in Syria today, Saturday May 22, 2021, according to “black market” transactions:

The selling price of one gram of 21 carat gold in the markets of the capital Damascus today is 165,870 Syrian pounds, and 142,180 Syrian pounds per gram of 18 carats.

While the selling price of a gram of 21 carat gold in the markets of Aleppo province was 165,800 Syrian pounds, and 142,110 Syrian pounds per gram of 18 carats.

While the selling price of a gram of gold in the markets of Idlib governorate and its northern regions this evening was recorded at 161,500 Syrian Pounds per gram of 21 carats, and 138,460 per gram of 18 carats.