AZE.US
Gold prices have fallen on Baku’s jewelry market, with traders saying the price of one gram of Turkish gold has dropped by about 60 manats in the past two months.
According to sellers, Turkish gold, one of the most demanded products on the local market, is now being sold for around 175 manats per gram, or roughly $103. Earlier, the same category was reportedly offered at about 235 manats per gram, or around $138.
The decline is also visible in purchase prices. Traders say gold that was previously bought from customers at around 170 manats per gram is now being purchased for about 130 manats, or roughly $76.
Other categories have also moved lower. Russian gold is now quoted by market participants at around 150–160 manats per gram, while silver prices have also weakened.
Experts link the pressure on precious metals to several factors, including stronger interest in the U.S. dollar, inflation expectations, shifts in energy markets and changes in central bank behavior. Some central banks have reportedly reduced gold purchases or signaled possible sales of part of their holdings to manage costs and balance-sheet risks.
Silver has faced additional pressure after India, one of the world’s largest silver importers, moved to restrict imports.
Analysts say it is still too early to speak of a stable price outlook. The market remains sensitive to external signals, and both gold and silver may continue to see sharp changes in the coming period.
AZE.US