SOFAZ will increase its gold reserves to 170 tons this year
The State Oil Fund of the Republic of Azerbaijan (SOFAZ) will increase its gold reserves to 170 tons this year, said Farhad Zeynalov, the director of the Fund's Investment Department, APA reports.
According to him, the Fund purchased 44.8 tons of gold in 2024, of which 41 tons were brought to the country. The total volume of reserves has reached 146.6 tons.
"Gold purchases continue, and in April- May of this year, the Fund plans to continue purchases and increase reserves to 170 tons, with the share in the portfolio reaching 25%," Mr Zeynalov added.
Source: https://en.apa.az