Azerbaijan's Gold Price Drops 1.2%, Silver Rises Slightly

The Central Bank of Azerbaijan (CBA) released its weekly overview of precious metals prices in the country. From August 24 to 28, the price of one troy ounce of gold decreased by AZN 96.679 ($56.87), or 1.2%. This decline brought the average weekly price of gold down to AZN 7,857.4748 ($4,622.04), a 4.3% increase compared to the previous week.

The price of one troy ounce of silver, on the other hand, rose by AZN 0.0427 ($0.0251), or 0.03%, over the week. The average weekly price of silver climbed by AZN 4.78828 ($2.82), or 4.3%, to AZN 116.8486 ($68.73).

The prices of platinum and palladium showed mixed results during the week. One troy ounce of platinum declined by AZN 58.123 ($34.19), or 1.8%, but its average weekly price rose by AZN 137.5147 ($80.89), or 4.5%, to AZN 3,161.9558 ($1,859.97). Meanwhile, the price of one troy ounce of palladium increased by AZN 3.4085 ($2.01), or 0.1%. Its average weekly price went up by AZN 36.5738 ($21.51), or 1.6%, to reach AZN 2,287.5965 ($1,345.64).