Damascus, Sept. 14 (SANA)The price of 21-karat gold in theSyrian marketfell by SYP 100 per gram on Monday compared with Sunday, according to theGeneral Authority for Precious Metals Management.

The authority’s bulletin put 21-karat gold at SYP 16,000 ($131.15) per gram for selling and SYP 15,700 ($128.69) for buying.

A gram of 18-karatgoldwas priced at SYP 13,750 ($112.70) for selling and SYP 13,450 ($110.25) for buying.

The authority put the global reference price of an ounce of gold at $4,311.

Ininternational markets, spot gold fell 0.9% to $4,308.24 an ounce by 0907 GMT, while US gold futures dropped 1.4% to $4,348.50, Reuters reported, as expectations of aFederal Reserve interestrate hike strengthened following hotter inflation data and a rally in oil prices.

The dollar rose to a more than one-week high, makingdollar-pricedbullion more expensive for holders of other currencies.

Traders were pricing in an 89% chance of a Fed rate hike this week, up from about 67% before the latest US inflation data. Goldman Sachsand HSBC expect the central bank to raise interest rates by 25 basis points at its two-day policy meeting ending Wednesday. Higher interest rates tend to reduce the appeal of non-yielding bullion.

Oil prices rose about 3% on Monday as fresh attacks onSaudi energyand civilian infrastructure and attacks on shipping in theGulfadded to supply concerns.

Among other precious metals, spot silver fell 1.9% to $63.22 an ounce, platinum declined 1.4% to $1,770.82 and palladium dropped 1.4% to $1,280.97.