Baku: Ali Ahmedov ; Economics. As a result of investing program in new investment instruments, the State Oil Fund of Azerbaijan will buy 30 tons of gold during next 2 years.
SOFAR says the gold will be increased per week during 2 years.
From February 1 gold purchase has already been started. 25 gold bullions and 10 gold ounces are purchased per week. As of July 1, 6,847 kg or 220,146 ounces of gold were purchased and included in investment portfolio.
Temporary keeping place is JP Morgan bank’s London storehouse. BY the end of the year, additional 240,000 ounces or 7.5 tons of gold are planned to purchase.