SOFAZ bought over 10 tons of gold in 3 months

17:03 - 17.07.2024

July 17, Fineko/abc.az. The State Oil Fund of Azerbaijan (SOFAZ) has increased investments in gold.

ABC.AZ reports that in the 1st quarter of 2024, investments in gold amounted to $7.499 billion - 13.2% of SOFAZ investment portfolio.

In 3 months, SOFAZ increased investments in gold by $1.075 billion or by 14.3%.

In the 2nd quarter of 2024, investments in gold totaled $8.574 billion - 14.8% of SOFAZ investment portfolio.

Over Q2 of 2024, SOFAZ bought more than 10 tons of gold.

Thus, as of April 1, 2024, Fund's gold reserves amounted to 104.6 tons, and on July 1 this figure grew up to 114.9 tons, i.e., over the past 3 months SOFAZ has increased its gold reserves by 10.3 tons.