Azerbaijan's gold strategy comes as hedge against global fluctuations

Azernews.Az

18 February 2025 13:37 (UTC+04:00)

Akbar Novruz

Azerbaijan ranked as the fifth-largest gold buyer in 2024, according to the World Gold Council’s latest report. The global trend of increasing gold reserves continues, driven by economic uncertainties and the need for a stable hedge against inflation. However, Azerbaijan’s gold acquisitions are not made by the country’s central bank but rather by the State Oil Fund of the Republic of Azerbaijan (SOFAZ). What is the purpose behind this large-scale gold purchase? Is it an effective strategy, and will it continue?

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