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Weekly review of Azerbaijan's precious metals market

Economy Materials 3 February 2025 16:16 (UTC +04:00)
Weekly review of Azerbaijan's precious metals market
Sadig Javadov
Sadig Javadov
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BAKU, Azerbaijan, February 3. The valuation of an ounce of gold in Azerbaijan grew by 64.1 manat, or $37.6 (1.37 percent), last week, Trend reports.

The weighted average cost of an ounce of gold went down by 92.4 manat, or $54.3 (0.01 percent), compared to the previous week's figure, settling at 4,664 manat ($2,743).

Gold ounce value change

January 20

4,614 manat ($2,713)

January 27

4,688 manat ($2,756)

January 21

4,636 manat ($2,726)

January 28

4,663 manat ($2,742)

January 22

4,678 manat ($2,750)

January 29

January 23

4,678 manat ($2,750)

January 30

4,692 manat ($2,759)

January 24

4713.7600

January 31

4,752 manat ($2,794)

Weekly average

4,664 manat ($2,742)

Weekly average

4,664 manat ($2,742)

Last week, the price of an ounce of silver in Azerbaijan rose 1.99 manat, or $1.17 (3.7 percent). The weighted average cost of an ounce of silver came in at 52.15 manat ($30.66), which is 0.21 percent or 0.11 manat (0.06 cents) less than the previous week's tally.

Silver ounce value change

January 20

52.28 manat ($30.74)

January 27

51.55 manat ($30.3)

January 21

52 manat ($30.5)

January 28

51.15 manat ($30)

January 22

52.53 manat ($30.8)

January 29

January 23

52.12 manat ($30.6)

January 30

52.45 manat ($30.8)

January 24

52.33 manat ($30.7)

January 31

53.43 manat ($31.4)

Weekly average

52.26 manat ($30.7)

Weekly average

52.15 manat ($30.6)

Besides, last week, the price of an ounce of platinum in Azerbaijan went up by 43.4 manat ($25.5), or 2.7 percent. Meanwhile, the weighted average cost of an ounce of platinum increased by 11.5 manat, or $6.76 (0.72 percent), landing on 1,623 manat ($954.4) compared to the previous week's numbers.

Platinum ounce value change

January 20

1,595 manat ($937.9)

January 27

1,608 manat ($945.6)

January 21

1,611 manat ($947.3)

January 28

1,606 manat ($944.4)

January 22

1,618 manat ($951.4)

January 29

January 23

1,607 manat ($945)

January 30

1,627 manat ($956.8)

January 24

1,625 manat ($955.6)

January 31

1,651 manat ($970.9)

Weekly average

1,611 manat ($947.3)

Weekly average

1,623 manat ($954.4)

The price for an ounce of palladium in Azerbaijan grew by 26.1 manat ($15.3) or 1.57 percent last week. Meanwhile, the weighted average cost of an ounce of palladium grew by 0.96 percent, or 15.8 manat ($9.3), compared to the indicator of the previous week, amounting to 1,658 manat ($974.9).

Palladium ounce value change

January 20

1,600 manat ($940.9)

January 27

1,657 manat ($951)

January 21

1,600 manat ($940.9)

January 28

1,640 manat ($951)

January 22

1,646 manat ($967.9)

January 29

January 23

1,655 manat ($973.2)

January 30

1,651 manat ($970.9)

January 24

1,709 manat ($1,005)

January 31

1,683 manat ($989.7)

Weekly average

1,642 manat ($965.6)

Weekly average

1,658 manat ($975)

To note, January 29, 2025, was a non-working day in Azerbaijan due to the municipal elections held on that day. As a result, the data for precious metals on that date has not been included in the reports.

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