Gold Buying Guide in Syria: Everything You Need to Know Before Purchasing

Buying gold remains the primary choice in Syria for protecting savings against exchange rate fluctuations. In this guide, we explain the steps for a safe purchase, from choosing the karat to receiving the invoice.

First: Choose the Right Karat for Your Goal

The karat represents the percentage of pure gold in the piece. Each karat has a different usage:

• 24 Karat: The purest (99.9%)—ounces and gold liras; most suitable for pure savings.

• 21 Karat: The most traded in the Syrian market (87.5%)—combines saving with utility.

• 18 Karat: For modern jewelry (75%)—craftsmanship fees are relatively higher.

Second: Verify the Official Hallmark

Every legitimate gold piece in Syria bears an official hallmark specifying the karat. Request a detailed invoice from the jeweler that lists the weight in grams, the karat, and the craftsmanship fees, separate from the raw gold price.

Third: Understand Craftsmanship Fees

Craftsmanship fees typically range between 3% and 8% of the piece’s value, varying by governorate and design complexity. When buying for saving purposes, choose pieces with the lowest fees (liras and ounces) because fees are not recovered upon resale.

Fourth: Monitor the Price Before Going to the Market

The price per gram moves daily with the global ounce and the exchange rate. Review real-time updated gold prices in Syria before any purchase, and avoid buying during days of extreme volatility.

Quick Tips Before Buying

• Compare prices between at least three jewelers on the same day.

• Request that the piece be weighed in front of you on a digital scale.

• Keep the invoice—you will need it when reselling.

• For long-term savings, prefer gold liras over jewelry.