Baku: President of Azerbaijan Ilham Aliyev revealed in a recent interview with local television channels that the strategic decision made last year to increase the country's gold reserves has resulted in significant financial gains for Azerbaijan.

According to Azerbaijan State News Agency, President Aliyev stated that the State Oil Fund of Azerbaijan earned more than 10 billion U.S. dollars by boosting its gold reserves. He highlighted that this decision was influenced by observing geopolitical developments and anticipating a rise in gold prices, which subsequently surged as expected.

The President also noted the fluctuating nature of the gold reserves, mentioning that although the reserves' value changes daily, they remain among the highest per capita reserves globally. He acknowledged the potential decrease in reserves should gold prices drop, but emphasized the current strong position of Azerbaijan's financial reserves.