Azerbaijan may create gold reserves
Azerbaijan’s government and Central Bank support creating gold
reserves in the country, Elman Rustamov, chairman of the Central
Bank steering board, has said. He was commenting on the proposals
to store gold produced at the Gadabay mine for the purpose.
Rustamov said the measure would be appropriate in terms of
diversifying Azerbaijan’s financial reserves.
"Overall, the government and we are considering keeping gold
produced by Azerbaijan as reserves. Gold is currency too, it is
easily converted, and it can be regularly purchased and sold.
Simply, as government, we should also approach this issue from the
viewpoint of efficiency in the future."
World gold prices have been surging of late. For instance, gold
rose 6.3% since the beginning of this year and by around 40% since
the beginning of last year."*
Here we are to serve you with news right now. It does not cost much, but worth your attention.
Choose to support open, independent, quality journalism and subscribe on a monthly basis.
By subscribing to our online newspaper, you can have full digital access to all news, analysis, and much more.
You can also follow AzerNEWS on Twitter @AzerNewsAz or Facebook @AzerNewsNewspaper
Thank you!