Baku: The price of an ounce of gold in Azerbaijan rose by 70.7 manat ($41.5), or 1.3 percent, as observed at the conclusion of this week, Trend reports.

According to Trend News Agency, the weighted average cost of an ounce of gold increased by 79.8 manat ($46.9), or 1.40 percent, compared to last week's figure, totaling 5,751 manat ($3,381). The price changes throughout the week saw gold trading at varying rates, with a notable increase on August 29 to 5,794 manat ($3,406).

Meanwhile, the silver market experienced a modest increase. The price of an ounce of silver in Azerbaijan went up by 0.04 manat, or $0.02 (0.07 percent), this week. The weighted average cost of an ounce of silver amounted to 65.8 manat ($38.6), which is 2.3 percent, or 1.51 manat ($0.88), more than last week's figure, showing a consistent upward trend across the week.

In contrast, the platinum market saw a slight downturn. The price of an ounce of platinum in Azerbaijan decreased by 4.19 manat ($2.46), or 0.2 percent, this week. The weighted average cost of an ounce of platinum went down by 29.5 manat, or $17.3 (1.3 percent), to 2,298 manat ($1,351) compared to last week's figure, reflecting a minor decline over the week with fluctuations in daily prices.

The palladium market also faced a downward trend. During the week, the price of an ounce of palladium in Azerbaijan fell by 22.8 manat ($13.4), or 1.2 percent. The weighted average price of an ounce of palladium declined by 19.2 manat ($11.2), or 1 percent, compared to last week, to 1,878 manat ($1,104). Despite beginning the week relatively stable, palladium saw a decrease in value by the week's end.

These mixed trends in Azerbaijan's precious metals market highlight the varying influences impacting commodity prices, with gold experiencing the most significant rise while platinum and palladium faced declines.