BAKU, Azerbaijan, July 17
By Fatima Zulfigar – Trend:
Prices for gold and other precious metals will rise in Azerbaijan, Chairman of the country's Association of Jewelers Togrul Abbasguliyev told Trend on July 17.
Abbasguliyev said that global gold prices have increased over the last few years.
"Platinum and silver are also rising in price. According to forecasts of investment experts, the prices of gold and other precious metals, as well as oil will continue to rise, because all the prices are interconnected," he noted.
According to the chairman, if the quarantine regime [imposed due to COVID-19 pandemic] is tightened again in Azerbaijan in the near future, this will negatively affect the situation in the field of precious metals.
"Naturally, demand for products will fall. Both manufacturers and distributors will experience difficulties in selling goods, and in such conditions, a decline will automatically occur,” he further said.
“Entrepreneurs will find it difficult to get out of this situation since cascading crises are more difficult to pass. Jewelers have just begun to recover their business, and the second blow in the form of restrictive measures will negatively affect this sector," concluded Abbasguliyev.