Gold price in Azerbaijan shows uptick

By Trend

The price of gold increased in Azerbaijan on September 1 compared to the previous price, Trend reports referring to the data published by the Central Bank of Azerbaijan (CBA).

The price of gold went up by 30.192 manats or $17.76 (0.9 percent) and amounted to 3,377.6705 manats or $1,986.86 per ounce.

The price of silver rose by 1.1611 manats or 68 cents (2.4 percent) and amounted to 48.7747 manats ($28.69).

The price of platinum grew by 17.6885 manats or $10.4 (1.11 percent) and amounted to 1,611.906 manats ($948.18).

The price of palladium soared by 114.563 manats or $67.39 (3.04 percent) and amounted to 3,888.3845 manats ($2,287.28).

In monthly terms, the price of gold grew by 41.905 manats or $24.65 (1.3 percent) per ounce, silver went up by 7.7647 manats or $4.57 (18.9 percent) per ounce, platinum rose by 33.8045 manats or $19.88 (2.1 percent) per ounce and palladium increased by 252.5435 manats or $148.55 (6.9 percent).

On annualized basis, the price of gold spiked by 782.561 manats or $460.33 (30.2 percent), silver grew by 17.6978 manats or $10.41 (56.9 percent), platinum rose by 50.983 manats or $29.99 (3.3 percent) and palladium surged by 1,362.3885 manats or $801.4 (53.9 percent).

Precious metals are gold, silver, platinum and metals of platinum group (palladium, iridium, ruthenium, rhodium, and osmium) brought to the highest fineness (999.9).

The precious metals are sold as ingots, coins or powder and have the appropriate quality certificates.

Troy ounce is a unit of mass equal to 31.1034768 grams.

(1 USD = 1.7 manat on Sept.1)

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