Reza Vaziri says gold prices to remain high

Reza Vaziri says gold prices to remain high
# 18 May 2007 15:01 (UTC +04:00)
“Increasing gold prices in the world makes it necessary for any country to establish its gold fund, Reza Vaziri, President of Azerbaijan International Mining Operating Company, told APA-Economics.
He added that gold is an excellent hedge instrument to prevent the national currency from depreciating.
“It would be better to save 25% to 30% of reserves in gold,” he advised.
He added that establishment of a gold fund is also a good tool to maintain gold prices stable.
“The prices are high at present. Taking note of political and economic processes, it can be forecasted that gold prices will not go down soon,” he concluded. /APA-Economics/

Politics

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