Weekly review of Azerbaijan's precious metals market

Precious metal prices in Azerbaijan showed mixed performance over the past week, according to calculations based on data from the Central Bank of Azerbaijan (CBA), AzerNEWS reports.

Gold prices edged higher, with one troy ounce (31.1 grams) increasing by 10.7 manat ($75.76), or 0.2 percent, during the week. The average weekly price climbed by 73.29 manat ($43), representing a 1.1 percent rise from the previous week, to reach 6,917 manat ($4,070) per troy ounce.

Silver also recorded gains. The price of one troy ounce advanced by 0.6 manat ($0.30), or 0.7 percent, over the week. Its average weekly price increased by 1.56 manat ($0.92), or 1.6 percent, settling at 99 manat ($58) per troy ounce.

In contrast, platinum prices declined. One troy ounce fell by 21.36 manat ($12.56), or 0.8 percent, over the week. Despite the weekly drop, the average weekly price slipped by only 0.99 manat ($0.58), or 0.04 percent, to 2,759 manat ($1,620) per troy ounce.

Palladium also posted losses, with its price decreasing by 21.7 manat ($12.70), or 1 percent, during the week. The average weekly price eased by 1.9 manat ($1.10), or 0.1 percent, reaching 2,169 manat ($1,280) per troy ounce.