Azerbaijani President Aliyev said Monday that the country’s State Oil Fund has earned more than $10 billion by increasing its investments in gold. Last year, Azerbaijan made a strategic decision aimed at increasing its gold reserves. In an interview with Azerbaijani television, Aliyev said the decision was made against the backdrop of shifting geopolitical conditions and was based on his expectation that gold prices would rise significantly. Aliyev said, “We clearly saw the unfolding of geopolitical events, and I was convinced that gold prices would rise. And indeed, that is exactly what happened—gold prices have risen significantly.”