Azerbaijan.US
Gold prices in Azerbaijan have jumped sharply following a new rally on global markets, with retail prices rising by 10-15 manats per gram within a single day, according to local traders.
As of now, market prices stand at approximately:
Turkish gold: 220-230 manats per gram
Italian gold: around 300 manats per gram
Russian gold: 190-195 manats per gram
Just a week ago, prices were closer to 190–195 manats, highlighting the speed of the latest increase. Dealers say the price of gold scrap has also risen significantly, in some cases by 10 manats per gram within hours.
The surge has already affected demand. Sellers report a noticeable drop in purchasing activity, with many consumers choosing to sell existing gold holdings rather than buy new jewelry. Even during the traditional wedding season, demand remains weak due to budget constraints.
Gold sets that sold for about 3,000 manats a month ago are now priced at 4,500 manats, pushing many buyers out of the market.
Analysts attribute the price increase to heightened global uncertainty, including geopolitical tensions involving the United States and Iran, ongoing developments related to Ukraine, and uncertainty over international trade and tariff policies.
Experts warn that if geopolitical risks persist and positive signals fail to emerge, gold prices may remain elevated throughout 2026. However, a sustained improvement in the global outlook could trigger a market correction.
