Gold Price Today in Azerbaijan in Azerbaijani manat (AZN)

Friday, 4 October 2024, 3:10 AM

Gold ounce price in Azerbaijan is 4,522.18 Azerbaijani manat per ounce, Gold gram price is 145.41 per gram karat 24, 133.29 Azerbaijani manat per gram karat 22, 127.23 Azerbaijani manat per gram karat 21, 109.06 Azerbaijani manat per gram karat 18.

How Gold Price is Determined in Azerbaijan

The price of gold in Azerbaijan is influenced by various factors that reflect both local and global market dynamics. International gold prices, primarily set by trading on platforms like the London Bullion Market, play a significant role. These prices are affected by global supply and demand, economic indicators, and geopolitical stability.

In Azerbaijan, national currency fluctuations against other currencies, particularly the US dollar, can impact gold prices. A stronger Azerbaijani manat might result in lower gold prices locally, while a weaker manat could lead to higher prices. Additionally, local production and mining activities contribute to the overall availability of gold in the market, influencing pricing.

The central bank's policies, including interest rates and reserves management, also play a crucial part in determining gold prices. In periods of economic uncertainty, gold is often viewed as a safe-haven asset, increasing the demand and consequently the price. Furthermore, investor sentiment and local market speculation can lead to variations in gold pricing within Azerbaijan, reflecting the unique economic conditions and consumer behavior prevalent in the country.

Price of Gold Bullion in Azerbaijan in Azerbaijani manat

• The price of gold bullion 5 grams 24K in Azerbaijan: 727.04 Azerbaijani manat
• The price of gold bullion 10 grams 24K in Azerbaijan: 1,454.08 Azerbaijani manat
• The price of gold bullion 20 grams 24K in Azerbaijan: 2,908.15 Azerbaijani manat
• The price of gold bullion 50 grams 24K in Azerbaijan: 7,270.39 Azerbaijani manat
• The price of gold bullion 100 grams 24K in Azerbaijan: 14,540.77 Azerbaijani manat
• The price of gold bullion 250 grams 24K in Azerbaijan: 36,351.94 Azerbaijani manat
• The price of gold bullion 500 grams 24K in Azerbaijan: 72,703.87 Azerbaijani manat
• The price of gold bullion 1000 grams 24K in Azerbaijan: 145,407.74 Azerbaijani manat

Predictions for Gold Prices in Azerbaijan

The outlook for gold prices in Azerbaijan remains a topic of significant interest for investors and economic analysts. As of late 2023, various factors contribute to the predictions surrounding gold in the country. Due to global economic uncertainties, particularly fluctuations in currencies and inflation rates, gold is expected to retain its status as a safe-haven asset.

Many analysts forecast that the price of gold may experience an upward trend in the upcoming months. Strong demand for jewelry and investment purposes, both locally and internationally, supports this positive outlook. Additionally, Azerbaijan's investment in mining and exploration activities could also influence the domestic gold market.

However, it is crucial to consider potential risks, such as geopolitical tensions and changes in monetary policy, which could affect gold’s price trajectory. Market sentiment and global economic indicators will play pivotal roles in determining the value of gold in Azerbaijan.

Investors are advised to stay informed about trends in both the local and international markets, as these elements will be critical in shaping the future of gold prices in Azerbaijan.

Gold price in Azerbaijan in October 2024 in Azerbaijani manat