To him, while investing in gold SOFAZ does not purpose any speculation, it carries out the process on the basis of strategic decision: ‘Our decision is a strategic decision, we have diversified some part of country’s currency reserves and placed it into the gold. We do not intend to sell that gold’.
Movsumov also noted that as the Fund obtains gold not through one-time purchase, but by portions, this strategy had proved itself: ‘Thus, if we purchased all the gold last year, it would cost dear to us. But we conducted procurement within two years and it let us to buy it at the same price during fall in prices. This is a right strategy and it proves itself’.
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