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Move over, central banks: Sovereign wealth funds are also buying tonnes of gold
Gold is once again at the center of global financial strategy—not just for central banks, but for sovereign wealth funds looking to hedge risks and preserve value. Krishan Gopaul, Senior Analyst for EMEA at the World Gold Council, reported in a social media post on Wednesday that the State Oil Fund of the Republic of Azerbaijan (SOFAZ) bought 16 tonnes of gold during the second quarter. “This lifts its total H1 net purchases to 35 tonnes and total gold holdings to 181 tonnes (almost 29% of its total portfolio),” he said. According to its investment policy, the sovereign wealth fund has reached its maximum ... (full story)
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- Jul 23, 2025 1:15pm Posted byFundamental Analysis236
