17:12 - 23.07.2025

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July 23, Fineko/abc.az. The State Oil Fund of Azerbaijan (SOFAZ) has suspended investments in gold since the 2nd quarter of this year.

ABC.AZ informs that in accordance with SOFAZ's investment policy, the share of the gold sub portfolio is set at 25% of the overall investment portfolio, and the maximum upper deviation from this target is set at 4%.

"In the 2nd quarter of 2025, this sub-portfolio of the Fund reached the level stipulated in the initial planning and amounted to a total of 181.1 tons. For this reason, new investment operations in gold have been temporarily suspended since the specified period," SOFAZ says.

However, the Fund added, depending on market conditions and the general condition of the investment portfolio, "a review of this issue is possible in the future".

SOFAZ acquired 15.8 tons of gold in the 2nd quarter. As of July 1, the share of gold in SOFAZ’s investment portfolio was 28.8%, which is 3 percentage points more than on April 1. The increase is linked with both the purchase of gold and the increase in its price.