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    Azerbaijan sold 10 tons of gold in last 4 months of 2016

    Azerbaijan ranked 62nd in terms of holding gold reserves

    Baku. 4 May. REPORT.AZ/ In September-December 2016, Azerbaijan has sold 10,2 tons or 322 784 ounces of gold. 

    Report informs, referring to the World Gold Council (WGC), Azerbaijan has sold 1 ton (31 645 ounces) in September 2016, 4.2 tons (132 911 ounces) in October, 3 tons (94 937 ounces) in November, 2 tons (63 291 ounces) in December 2016.

    After the sales, Azerbaijan ranked 62nd in terms of holding gold reserves. Notably, after the sales Azerbaijan's gold reserves made 12,1% of aggregate reserves.

    According to report, US took first place in volume of gold reserves (8 133.5 tons) and it made 75,1% of aggregate reserves. Russia ranked 7th with (1 680,1 tons, 16,9%).

    Turkey with 427,8 tons (16,2%) took 13th place.

    Recall that, The State Oil Fund of Azerbaijan (SOFAZ) declared that the report issued by the World Gold Council about the sale of gold reserves of Azerbaijan is untrue. The fund told Report that total amount of gold purchased by the SOFAZ was 30.2 tons: "Purchased gold brought to Azerbaijan and kept in Central Bank of Azerbaijan. In order to keep gold reserves in storage, since last year gold reserves were delivered by parts from Central Bank's treasury to the Fund's treasury. Information in connection with the sale of Fund's gold reserves is untrue. At present, the Fund doesn't intend to sell gold reserves”.

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