Azerbaijan sees decline in prices for precious metals

By Trend

Prices for precious metals in Azerbaijan fell on March 1 compared with previous indicators, Trend reports citing data from the Central Bank of Azerbaijan.

Accordingly, an ounce of gold fell by 35.5215 manat or $20.89 (1.18 percent), amounting to 2,972.3395 manat or $1,748, and an ounce of silver - by 0.8142 manat or 47 cents (1.75 percent), to 45.6236 manat or $26.83. The price per ounce of platinum decreased by 17.68 manat or $10.4 (0.85 percent) and amounted to 2,061.896 manat or $1,212, and per ounce of palladium - by 142.613 manat or $83.89 (3.46 percent), amounting to 3,977.558 manat or $2,339.

In monthly terms, the price of an ounce of gold decreased by 190.5105 manat or $112 (6 percent), and an ounce of silver - by 2.6907 manat or $1.58 (5.6 percent). The price per ounce of platinum increased by 186.2435 manat or $109.5 (9.9 percent), and per ounce of palladium - by 145.2905 manat or $85.46 (3.8 percent).

On an annualized basis, gold rose in price by 185.4955 manat or $109.1 (6.7 percent), silver - by 15.8045 manat or $9.3 (53 percent), platinum - by 570.656 manat or $335.6 (38.3 percent), and palladium fell in price by 783.4195 manat or $46.08 (16.5 percent).