Gold price in Azerbaijan declines

By Trend

The price of gold decreased in Azerbaijan on August 26 compared to the previous price, Trend reports referring to the data published by the Central Bank of Azerbaijan (CBA).

The price of gold went down by 15.929 manat or $9.37 (0.5 percent) and amounted to 3,271.2335 manat or $1,924.25 per ounce.

The price of silver dipped by 0.4308 manat or 25 cents (0.95 percent) and amounted to 44.7047 manat ($26.3).

The price of platinum grew by 0.1105 manat or 6.5 cents (0.01 percent) and amounted to 1,574.353 manat ($926.09).

The price of palladium slid by 13.5745 manat or $7.98 (0.4 percent) and amounted to 3,702.039 manat ($2,177.67).

In monthly terms, the price of gold grew by 64.43 manat or $37.9 (2 percent) per ounce, silver went up by 6.2991 manat or $3.96 (16.4 percent) per ounce, platinum rose by 34.527 manat or $20.31 (2.2 percent) per ounce and palladium increased by 68.0935 manat or $40.05 (1.9 percent).

On annualized basis, the price of gold spiked by 648.89 manat or $381.7 (24.7 percent), silver grew by 14.6925 manat or $8.64 (49 percent), platinum – by 109.5055 manat or $64.41 (7.5 percent) and palladium surged by 1,200.3785 manat or $706.1 (48 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 Aug.26)