Baku: In the third quarter of this year, the average price of gold in world markets increased by 40% year-on-year to 3,456.54 US dollars per troy ounce.

According to Azeri-Press News Agency, this surge in gold prices was highlighted in a report by the World Gold Council (WGC).

The report noted that the price of gold, as tracked by the London Bullion Market Association (LBMA), reached a new historical maximum level 13 times during the third quarter. This consistent rise in gold prices reflects significant shifts in the global market landscape.

Additionally, the report indicated that the average price of gold in the third quarter saw a 5% increase compared to the second quarter of this year. This upward trend underscores the ongoing demand and market dynamics influencing gold valuation.