BAKU: Azerbaijan’s precious metals market showed varied trends this week, with notable changes in the prices of gold, silver, platinum, and palladium, as reported by Trend News Agency.

According to Trend News Agency, the gold market in Azerbaijan experienced a slight decline. The price of an ounce of gold decreased by 1.6 manat, equivalent to 94 cents, marking a 0.04 percent drop. The weighted average cost of an ounce of gold also fell significantly by 35.59 manat or $20.94, a decrease of 0.79 percent, settling at 4,476 manat ($2,633).

In the silver market, the price per ounce decreased by 1.27 manat, about 75 cents, which is a 2.34 percent decline. The weighted average cost for an ounce of silver ended the week at 53 manat ($31), down by 1.28 percent or 0.6888 manat (41 cents) from the previous week.

Platinum prices also saw a downturn, with the price per ounce decreasing by 11.67 manat or $6.86, a 0.66 percent drop. The weighted average cost of an ounce of platinum decreased by 43.6 manat or $25.6 (2.58
percent), landing at 1,649 manat ($970).

Conversely, the palladium market in Azerbaijan exhibited an upward trend. The price for an ounce of palladium surged by 116.7 manat or $68.6, showing a significant increase of 6.75 percent. The weighted average cost of an ounce of palladium rose by 3.07 percent or 52.6 manat ($30.9), reaching 1,765 manat ($1,038) compared to last week.