16:46 - 17.02.2025

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February 17, Fineko/abc.az. The State Oil Fund of Azerbaijan (SOFAZ) plans to increase the share of gold in its investment portfolio to 25% this year, ABC.AZ reports with reference to SOFAZ.

In  accordance with the investment policy, the volume of gold purchased this year will depend on its market price on the relevant date.

The Fund stressed that gold is considered a reliable investment instrument that retains its value in the long term, as well as an effective mechanism to protect against inflationary risks.:

"Amid geopolitical tensions and instability in global markets, increasing gold reserves is of strategic importance both in terms of diversifying foreign exchange reserves and reducing risks. In 2024, investments in gold in financial markets increased by 25% against 2023, reaching 1,180 tons, which was the highest figure in the last 4 years."