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Azerbaijan Cuts Gold Holdings as Price Surge Pushes Allocation Beyond Portfolio Cap
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Bloomberg reported that the quarterly report of the State Oil Fund of Azerbaijan showed that the fund sold about 22 tonnes of gold in 1Q26, valued at more than USD3 billion at current prices. This marks the first reduction in its gold reserves since the fund began purchasing gold in 2012. The report noted that the surge in gold prices pushed the funds gold holdings to 38% of its total assets of USD74 billion at the end of last year. According to the funds website, gold may account for up to 35% of the investment portfolio, with a maximum deviation of no more than 4%. As of the first quarter, there were limited changes to the overall portfolio, with weak performance in equities and bonds offset by gains from gold holdings. (fc/w) This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. Auto-translated by AI AASTOCKS Financial News |
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