BAKU— This week in Azerbaijan’s precious metals market, notable fluctuations were recorded across gold, silver, platinum, and palladium, reflecting shifts in both global and local economic landscapes.

According to Trend News Agency, the price of gold increased slightly by 0.3 percent to end the week at 4,395 manat ($2,585) per ounce. This represents a rise of 13.27 manat ($7.8) from the previous week, with the weighted average cost climbing by 96.9 manat, or $57 (2.26 percent), to reach 4,382 manat ($2,577). Silver prices also saw an uptick, rising 0.23 percent to conclude at 52.8 manat ($31) per ounce, up from 47.6 manat ($28). This marks an overall increase in the weekly average cost by 7.08 percent, or 3.45 manat ($2), amounting to 52.2 manat ($30.7).

In contrast, platinum witnessed a decline this week, dropping by 22.26 manat, or $13 (1.31 percent), with its weighted average price rising by 57.37 manat, or $33.7 (3.54 percent), settling at 1,679 manat ($987.6). Palladium prices, on the other hand, showed robust growth, increasing by 1.01 percent to finish at 1,847 manat ($1,086) per ounce, with a weekly average increase of 3.55 percent, or 57.5 manat ($33.8).

These movements in the precious metals market are indicative of broader economic trends and investor behaviors influencing Azerbaijan’s financial landscape, particularly in the context of global market dynamics.