AZE.US
Gold prices in Azerbaijan are back in focus after another round of market fluctuations. Sellers say prices have risen slightly again after a recent decline, mainly due to global gold prices and the exchange rate of the U.S. dollar.
In Baku, sellers said gold had previously climbed to around 200-210 manats, but prices have since eased. Depending on the purity and the store, 585 gold in the capital is now being sold for about 175-185 manats.
Higher-purity gold remains more expensive. Some sellers put 750 gold at around 230 manats, while others say it can reach 260-265 manats. Diamond sets start at around 2,500-3,000 manats and go higher depending on design and weight.
Sellers say buyer activity remains weak. Prices change frequently, sometimes from week to week and even from day to day, making it difficult for both buyers and sellers to predict the market.
In the regions, the picture is mixed. Gold is often expected to be cheaper outside Baku because shop rents, display costs and other business expenses are lower. Those costs are higher in the capital and can directly affect the final price paid by customers.
In Ismayilli, for example, some gold items may be 5-15 manats cheaper than in Baku. Local sellers said 583 gold is being sold for around 160-170 manats, while 585 gold ranges from 175 to 185 manats.
But regional prices are not always lower. In Shaki, sellers said gold may cost the same as in Baku or even slightly more. There, 585 gold is being offered at around 170-180 manats, while 750 gold sells for about 230-240 manats.
One reason is wholesale pricing. Traders say suppliers deliver gold to regional stores at almost the same prices charged to sellers in Baku. As a result, regional stores do not always have enough room to offer significantly lower prices.
Buyer behavior is also changing. In previous years, demand usually increased sharply during the wedding season. Now, customers are more likely to choose lighter and more affordable items. Interest in gold remains, but buyers are paying closer attention to weight, purity and the final cost.
Sellers expect demand to rise after May as the wedding season becomes more active. For now, the main question for buyers remains whether to purchase now or wait for another possible price drop.
AZE.US