Azerbaijan to form strategic gold reserve this year

According to him, the Fund can invest 5% of assets in gold: “Before, it was taken a decision to purchase 30 tonnes of gold within two years. Of this, 20 tonnes have already been brought to the country. Next 10 tonnes will be brought within this year”. Movsumov said that these procurements are carried out in accordance with the formation of strategic gold reserves of the country: “Therefore, value of the purchased gold is not significant. Averagely 300 kg precious metals at about $1,400-1,500 are purchased per week”. Latest procurements required $1,200: “This is related to price reduction of the gold in the world market”.ANN.Az