The volume of gold in the assets of the State Oil Fund of Azerbaijan (SOFAZ) is expected to increase to 170 tons in April-May 2025, SOFAZ Investment Department Director Farhad Zeynalov said at a media briefing on investment results for 2024 and prospects for 2025, according to Report.

"SOFAZ plans to increase the share of gold in its investment portfolio to 25%. In 2024, the fund purchased 44.8 tons of gold, of which 41 tons have already been delivered to the country. Thus, as of December 31, 2024, the total volume of gold in the fund's assets amounted to 146.6 tons (20.6% of the investment portfolio) worth $12.4 billion," he said.

He noted that the price of gold increased by 27.2% in 2024, from $2,063 to $2,624.5 per troy ounce. Moreover, considering the period from the beginning of 2024 to March 2025, gold has appreciated by 40%, he said.

"Gold purchases will continue in 2025, and it is expected that by April-May its volume will reach approximately 170 tons," added Farhad Zeynalov.