The end of Muharram is celebrated in wedding palaces, restaurants, beauty salons, etc. It has brought about a renaissance in the countryside. Our people’s wedding is not imagined without jewellery.
How has the surge in weddings and engagements after Muharram this year affected gold sales? Is there a revival in this area?
Speaking to Bizim.Media, Chairman of the Board of the Azerbaijan Association of Jewelers public trade union Togrul Abbasguliyev said that the start of weddings and engagement ceremonies has led to a revival of gold sales.
He then talked about the effect of rising gold prices on sales:
“The sharp rise in the price of gold in recent times is a negative thing. Today, the price of 1 gram of pure 999 carat gold fluctuates between 83 and 84 dollars. Taking into account purchasing power, of course, this price influences sales.”
Our interviewee said that although there was a slight increase in sales, sales were lower than expected due to the price increase.
