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Threat of coronavirus does not affect price of gold in Azerbaijan

Threat of coronavirus does not affect price of gold in Azerbaijan

Economy
25 February 2020, 11:58 168
According to forecasts and researches of international financial institutions, prices for precious metals in Azerbaijan remain stable amid rising prices in the world associated with the threat of coronavirus, Chairman of the Executive Board of AzerGold CJSC Zakir Ibrahimov said at a company’s press conference on the results of 2019, Trend reports.
Ibrahimov added that the prices of gold and other precious metals on the world markets are actively changing. In many ways, these changes are associated with the coronavirus, which is widespread in China, since most investors purchase and stock up precious metals.
Nevertheless, according to researches by international organizations, prices for precious metals in Azerbaijan are quite stable.
Ibrahimov also noted that the company's goals for 2020 are to increase the volume of the sale to 55,200 ounces of gold and 103,700 ounces of silver.
AzerGold CJSC, which began operations in July 2016, is engaged in the study, research, exploration, management of precious and non-ferrous metal deposits, their extraction, processing and sale, as well as the application of new technologies in this area, improving the material and technical base and other work related to the development of this sphere.
In 2017-2020, AzerGold CJSC sold more than 173,000 ounces of gold and 290,000 ounces of silver.