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Weekly review of Azerbaijan's precious metals market

Economy Materials 17 May 2025 22:12 (UTC +04:00)
Weekly review of Azerbaijan's precious metals market
Sadig Javadov
Sadig Javadov
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BAKU, Azerbaijan, May 17.​ The price of an ounce of gold in Azerbaijan decreased by 100.2 manat, or $58.9 (1.8 percent), at the end of last week, Trend reports.

The weighted average cost of an ounce of gold went up by 113.5 manat, or $66.7 (2 percent), compared to the previous week's figure, amounting to 5,688 manat ($3,345).

Gold ounce value change

May 5

5,536 manat ($3,256)

May 12

5,572 manat ($3,277)

May 6

5,718 manat ($3,363)

May 13

5,527 manat ($3,251)

May 7

5,750 manat ($3,382)

May 14

5,479 manat ($3,222)

May 8

5,748 manat ($3,381)

May 15

5,334 manat ($3,137)

May 9

-

May 16

5,472 manat ($3,218)

Average weekly rate

5,688 manat ($3,345)

Average weekly rate

5,477 manat ($3,221)

The price of an ounce of silver in Azerbaijan declined by 0.84 manat, or $0.49 (1.5 percent), last week. The weighted average cost of an ounce of silver amounted to 55.3 manat, or $32.5, which is 0.7 percent, or 0.38 manat ($0.22), less than the previous week's figure.

Silver ounce value change

May 5

54.7 manat ($32.1)

May 12

55.9 manat ($32.8)

May 6

56.2 manat ($33)

May 13

56.1 manat ($33)

May 7

56 manat ($32.9)

May 14

55.4 manat ($32.5)

May 8

55.7 manat ($32.7)

May 15

54 manat ($31.7)

May 9

-

May 16

55.1 manat ($32.4)

Average weekly rate

55.7 manat ($32.7)

Average weekly rate

55.3 manat ($32.5)

The price of an ounce of platinum in Azerbaijan last week decreased by 21.3 manat, or $12.5 (1.2 percent). The weighted average cost of an ounce of platinum increased by 23.5 manat, or $13.8 (1.4 percent), to 1,687 manat ($992.3) compared to the previous week's figure.

Platinum ounce value change

May 5

1,643 manat ($966.4)

May 12

1,705 manat ($1,002)

May 6

1,659 manat ($975.8)

May 13

1,682 manat ($989.4)

May 7

1,677 manat ($986.4)

May 14

1,689 manat ($993.5)

May 8

1,674 manat ($984.7)

May 15

1,675 manat ($985.2)

May 9

-

May 16

1,684 manat ($990.5)

Average weekly rate

1,663 manat ($978.2)

Average weekly rate

1,687 manat ($992.3)

During the week, the price of an ounce of palladium in Azerbaijan decreased by 38.9 manat ($22.8), or 2.3 percent. The weighted average price of an ounce of palladium decreased by 5.20 manat ($3), or 0.3 percent, compared to the previous week, to 1,630 manat ($958.8).

Palladium ounce value change

May 5

1,628 manat ($957.6)

May 12

1,671 manat ($982.9)

May 6

1,616 manat ($950.5)

May 13

1,616 manat ($950.5)

May 7

1,651 manat ($971.1)

May 14

1,617 manat ($951.1)

May 8

1,649 manat ($970)

May 15

1,617 manat ($951.1)

May 9

-

May 16

1,632 manat ($960)

Average weekly rate

1,636 manat ($962.3)

Average weekly rate

1,630 manat ($958.8)

To note, May 9 is recognized as a national holiday in the country, commemorating Victory Day over Fascism. As such, data for that date has not been made available.

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