The State Oil Fund of Azerbaijan (SOFAZ) uses gold as a hedge against market volatility and inflation, with gold making up 38.2% of its investment portfolio as of January 2026. SOFAZ has increased its gold reserves to 200 tonnes and has generated significant investment returns over the past five years. The Fund's strategy focuses on maintaining a diversified portfolio to navigate market fluctuations and support economic stability. Teljes cikk (Euronews.com)