Price of Azerbaijani gold hits record in world market

Sharp rise of gold’s price in world market caused record price rise of Azerbaijani gold too.

President of Azerbaijan International Mining Company, engaged in gold production in Azerbaijan Rza Veziri said that on September 5, 1 troy ounce of Azerbaijani gold was sold for $1,896.5 in world market, up 35% from the price in the beginning of year.

“Price rise of gold is a positive tendency for AIMC and Azerbaijan’s government. I hope that the price of gold will be higher”, saying it he predicted that by year-end price of gold on the world market could reach 2 thousand dollars.

According to his words, the rise in prices caused by instability of the global economy, with the result that investors prefer to invest in gold in order to protect their funds: “I think the main factor here is instability in the world economy and I think as long as the global economy is not stabilized, the price will go up”.

He also said that the sharp rise in gold prices has led to the fact that Azerbaijan got the lucrative booty. As a result, since September, Azerbaijan International Mining Company began to pay taxes: “The budget has already been transferred to the first payment of $ 4.2 mln”.


/APA/