By AZE.US
Gold prices in Azerbaijan have declined again following a sharp increase, with the difference in the price of one gram reaching approximately 14 manats within a single week.
According to local sellers, the wholesale price of 585-purity gold has fallen from 170–172 manats ($100–$101) per gram to around 160–162 manats ($94–$95).
At retail outlets, one gram of 585-purity gold now costs approximately 170–175 manats ($100–$103), compared with 180–185 manats ($106–$109) previously. The retail price has therefore decreased by around 10–12 manats per gram.
Market participants say the rapid fluctuations are making it difficult for both buyers and sellers to predict prices. Demand has weakened as some consumers postpone purchases amid concerns that prices could fall further.
At the same time, lower prices may attract people who view gold as a way to preserve their savings. Jewelry remains the most popular choice, while wedding rings are in particularly high demand among couples preparing to marry.
Economists link the volatility to changes in global gold prices and geopolitical tensions involving the United States and Iran. Uncertainty surrounding the Strait of Hormuz has pushed oil prices higher and strengthened inflation expectations.
Higher energy costs can affect expectations concerning U.S. interest-rate policy, one of the major factors influencing international gold prices.
Experts warn that the current decline may be temporary. With geopolitical tensions and energy markets remaining volatile, another increase in gold prices cannot be ruled out.
AZE.US