Precious metals, especially gold, are continuously rising in price in world markets. As of this morning, stock exchange prices for 1 ounce of gold have exceeded 5600 dollars, and this is not the end.
Against the backdrop of rising prices, the situation in Azerbaijan's jewelry market draws attention. Considering the increased demand for gold related to significant events such as weddings, engagements, etc., it is interesting to see how the price increase in world markets will affect gold.
Rovshan Amirjanov, Deputy Chairman of the Azerbaijan Jewelers Association, speaking to **Modern.az**, did not rule out the possibility of counterfeiting in the retail market amidst the rising prices of precious metals.
"When there are appeals regarding individual cases, the matters are directed to the relevant institutions. Nevertheless, a theoretical increase in the risks of counterfeiting in the market against the backdrop of price increases is not ruled out. We note that such risks are not unique to the local market and are among the cases that can be observed in global markets in general".
The Azerbaijan Jewelers Association also stated that, according to market observations for 2025, buyers predominantly prefer 585 and 750 carat gold products:
“In recent times, against the backdrop of rising global gold prices, an increased interest in 585 carat gold products, in particular, has been observed. This fineness is considered more accessible for buyers in terms of price and usability balance. At the same time, it should be noted that overall demand for 999.9 carat gold products (in the form of bars and coins) has also increased. This increase is mainly related to investment-oriented purchases".
Azerbaijan purchased gold worth 4 billion 515.06 million US dollars in the first ten months of 2025.
According to new figures, the largest share in Azerbaijan's gold imports belongs to countries such as Australia (7,104 kg; $760.1 million), Russia (6,783 kg; $656.7 million), the USA (4,453 kg; $458.8 million), Great Britain (4,860 kg; $481.2 million), and Switzerland (3,453 kg; $396.3 million). Kazakhstan, Uzbekistan, the Republic of South Africa, and Canada are also among the main suppliers.
Today, January 29, the price of 1 ounce of gold in Azerbaijan is 8,918.1150 manats, and 1 gram of gold is 286.72 manats. According to prices for different types of gold, 1 gram of 999 carat pure gold was 286.72 manats, 750 carat Italian gold was 215.26 manats, 585 carat Turkish gold was 167.90 manats, and 582 carat Russian gold was 167.04 manats.
As we noted, the price increase occurs against the backdrop of rising gold prices in world markets.
