AZE.US
Gold prices in Azerbaijan have been rising in recent weeks, while demand in the country’s jewelry market has noticeably slowed, according to local traders.
Sellers say price fluctuations have become more frequent, with changes sometimes occurring daily as global gold prices shift.
“If before prices could stay stable for weeks, now they can change almost every day,” one jewelry seller said. “Customers complain because it’s difficult to plan their budget when the price keeps moving.”
Currently, scrap gold is being purchased for about 158–159 Azerbaijani manats per gram, while finished jewelry items are sold at around 210–215 manats per gram, depending on purity and design.
Traders say the local market closely follows global gold prices, which have been influenced by geopolitical tensions and uncertainty in the world economy.
However, despite rising prices, demand remains weak.
According to market participants, February was one of the slowest months for sales, largely due to seasonal factors.
The absence of the traditional wedding season – which usually drives jewelry purchases – and the ongoing Ramadan period have reduced customer activity.
Sellers are now hoping that spring holidays and the start of the wedding season in March will bring buyers back to jewelry stores.