Price on gold in Azerbaijan edges up

By Trend

The price of gold grew in Azerbaijan on August 18 compared to the previous price, Trend reports referring to the data published by the Central Bank of Azerbaijan (CBA).

The price of gold went up by 81.6935 manat or $48.05 (2.5 percent) and amounted to 3,385.5775 manat or $1,991.52 per ounce.

The price of silver increased by 2.3811 manat or $1.4 (5.3 percent) and amounted to 47.2866 manat ($27.82).

The price of platinum rose by 15.861 manat or $9.33 (1 percent) and amounted to 1,637.4485 manat ($963.2).

The price of palladium grew by 30.9825 manat or $18.22 (0.8 percent) and amounted to 3,713.939 manat ($2,184.67).

In monthly terms, the price of gold spiked by 327.93 manat or $192.9 (10.7 percent) per ounce, silver went up by 14.8606 manat or $8.74 (5.3 percent) per ounce, platinum soared by 228.735 manat or $134.55 (16.2 percent) per ounce and palladium surged by 354.62 manat or $208.6 (0.9 percent).

On annualized basis, the price of gold rose by 798.252 manat or $421.5 (10.7 percent), silver - by 17.9828 manat or $10.58 (61.4 percent), platinum – by 212.908 manat or $125.24 (14.9 percent) and palladium - by 1,248.361 manat or $734.33 (50.6 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.18)