SOFAZ suspends gold purchases

From the second quarter of 2025, the State Oil Fund of Azerbaijan (SOFAZ) has suspended investing in gold, the fund told Report.

"According to SOFAZ's investment policy, the share of the gold sub-portfolio is set at 25% of the total investment portfolio, with a maximum upward deviation interval of 4%.

In the second quarter of 2025, the fund's gold sub-portfolio reached the planned level, totaling 181.1 tons. Therefore, new investment operations in gold have been temporarily suspended since the mentioned period. However, depending on market conditions and the overall state of the investment portfolio, this issue may be reconsidered in the future," SOFAZ said.

Meanwhile, in the second quarter of 2025, SOFAZ purchased 15.8 tons of gold. As of July 1, the share of gold in the SOFAZ's investment portfolio was 28.8%, which is 3 percentage points more compared to April 1. This increase was influenced not only by gold purchases but also by the rise in gold prices.