11:34 - 31.05.2020

---

May 31, Fineko/abc.az. Gold has become the most reliable investment for investors around the world during the pandemic.

ABC.AZ reports the statement was made by Eduard Shamaryayev, the representative of the Association of Jewelers of Azerbaijan.

He noted that the price of gold reached its highest level in history in 2011.

"At that time, the price per ounce of gold exceeded $1,900. Currently, the growth in demand for gold gives a reason to say that prices can break the record of 2011," Association’s rep said.

According to Shamaryayev, gold prices in Azerbaijan are lower that the world’s ones.

He justified this by saying that the quarantine regime imposed in connection with the coronavirus pandemic in Azerbaijan has led to a decrease in the purchase and sale of gold.

"In particular, the postponement of wedding ceremonies significantly reduced sales of jewelry. The sale of gold in our country is carried out mainly in large shopping centers. The gold sales were negatively impacted by the fact that these facilities were closed due to quarantine regulations," Shamaryayev emphasized.