Gold, silver prices slightly grow in Azerbaijan

By Trend

The price of gold grew in Azerbaijan on August 21 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 0.7565 manat or 44 cents (less than 0.1 percent) and amounted to 3,311.566 manat or $1,947.98 per ounce.

The price of silver increased by 0.4333 manat or 25 cents (0.9 percent) and amounted to 46.5943 manat ($27.41).

The price of platinum declined by 25.33 manat or $14.9 (1.6 percent) and amounted to 1,573.35 manat ($925.5).

The price of palladium edged up by 4.73 manat or $2.78 (0.1 percent) and amounted to 3,702.872 manat ($2,178.16).

In monthly terms, the price of gold spiked by 221.264 manat or $130.16 (7.2 percent) per ounce, silver went up by 12.2083 manat or $7.18 (35.5 percent) per ounce, platinum soared by 137.1305 manat or $80.66 (9.5 percent) per ounce and palladium surged by 214.166 manat or $125.98 (6.1 percent).

On annualized basis, the price of gold rose by 756.177 manat or $444.81 (29.6 percent), silver - by 17.5881 manat or $10.35 (60.6 percent), platinum – by 134.657 manat or $79.21 (9.4 percent) and palladium - by 1,178.4315 manat or $693.19 (46.7 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.21)