The State Oil Fund of the Azerbaijan Republic (SOCAR) has purchased 30 tons (970,145.5 ounces) of gold since Q1 2012. About 20 tons (643,450.64 ounces) have already been delivered.
According to SOCAR’s strategy, up to 5% of the investment portfolio is spent on gold. Gold purchases will continue in portions in the next 2 years.
The SOCAR was founded in 1999. Its assets are worth $271 million. They grew by 4.9% throughout 2013 and reached $35,809.2 million..
