12:40 - 6.03.2025

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March 6, Fineko/abc.az. The volume of gold in the assets of the State Oil Fund of Azerbaijan (SOFAZ) is expected to increase to 170 tons in April-May 2025, ABC.AZ reports, quoting Farhad Zeynalov, the director of the SOFAZ Investment Department.

"SOFAZ plans to increase the share of gold in the investment portfolio to 25%. In 2024, the Fund purchased 44.8 tons of gold, of which 41 tons have already been delivered to the country. Thus, as of December 31, 2024, the total volume of gold in SOFAZ's assets reached 146.6 tons (20.6% of the investment portfolio) for $12.4 billion," he said.

According to Zeynalov, the price of gold in 2024 grew by 27.2%, from $2,063 up to $2,624.5 per troy ounce. At that, if we take into account the period from the beginning of 2024 to March 2025, gold rose in price by 40%.

"The purchase of gold will continue in 2025, and it is expected that by April-May its volume will reach nearly 170 tons," Zeynalov added.