Azerbaijan's State Oil Fund sells 22 tons of gold after price surge

11 articles · Updated · Bloomberg · Apr 24

The fund sold gold worth over $3 billion in the first quarter of 2026, marking its first-ever sale since it began accumulating gold in 2012.
This move follows a record rally in gold prices, which pushed the fund’s gold holdings to its maximum allowed allocation.
Previously a major state buyer, the fund joins central banks in influencing global gold markets, highlighting shifting strategies amid high prices.

With central banks buying most new gold, is a permanent supply crisis looming for the physical market?

As sovereign funds chase gold, what are the hidden environmental and social costs of this new gold rush?

Is this sale a simple rebalancing act or the start of a major strategic shift for sovereign wealth funds globally?

Did Azerbaijan's oil fund sell its gold too early, missing a predicted surge to $8,000 per ounce?

Why are nations hoarding ancient gold instead of embracing digital assets as a modern treasury reserve?

With $3 billion in cash, what strategic assets will Azerbaijan's sovereign fund buy next to hedge against global instability?