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Gold Trading Decline

Syria Media Report, 26-Sep-08

IWPR

Institute for War & Peace Reporting

Friday, 26 September, 2008

Gold Trading Decline

Syria Media Report, 26-Sep-08

Gold trade in Syria is on the decline and has dropped from 75 to 85 kilos per day to just 15 due to high world market prices, the pro-government website Syria News said on September 23.

Yaser al-Halabi, manager of Taiba Jewellery in Damascus, was quoted by the website saying he expected even higher prices due to the crisis in the international banking system.

Gold prices in Syria reached a peak last April, with 1300 Syrian pounds (28 US dollars) for one gramme, up from 440 Syrian pounds two years earlier.

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