Baku: The State Oil Fund of the Republic of Azerbaijan (SOFAZ) has significantly increased its investment in gold, with reserves now exceeding 184 tons. This development comes as part of SOFAZ’s ongoing strategy to bolster its financial assets.

According to Azeri-Press News Agency, SOFAZ purchased more than 38 tons of gold during the first nine months of the year. As of January 1, 2025, the Fund’s gold reserves stood at 146.6 tons. By October 1, this figure had risen to 184.8 tons, marking an increase of 38.2 tons in the nine-month period. This expansion highlights SOFAZ’s commitment to strengthening its gold holdings.