Gold Prices in Uzbekistan Reach Record High
Uzbekistan
Uzbekistan’s gold market has witnessed another historic surge. On February 3, 2025, the country recorded a sharp increase in the prices of gold bars and commemorative coins. According to the latest data from the Central Bank, the price of one gram of gold reached 1,197,760 Uzbek soums, which is 780 soums higher than Friday’s rate.
This sharp rise in gold prices is attributed to changes in the international market and global economic factors. In recent years, central banks worldwide have been increasing their gold reserves, viewing it as a safe investment asset. For instance, on the American Comex exchange, the price of gold per troy ounce surpassed $2,850, setting a new record. The last time gold exceeded $2,800 was in October 2024.
According to the Central Bank, the price of a 5-gram gold bar is now 5,989,000 soums, while a 10-gram bar costs 11,978,000 soums. Additionally, since January 17, 2025, 100-gram gold bars have been introduced for sale in Uzbekistan, with their price reaching 119,776,000 soums as of February 3.
According to the World Gold Council (WGC) July 2024 report, global gold demand decreased by 6% in the second quarter compared to the previous year, amounting to 929 tons. Nevertheless, central banks continued purchasing gold. The largest buyers include the National Bank of Poland (19 tons), the Reserve Bank of India (19 tons), and the Central Bank of Turkey (15 tons).
Experts believe that the rise in gold prices is linked to geopolitical instability, inflation risks, and the increasing demand for safe-haven assets among investors.
Gold bars are investment instruments made of 999.9 fine gold, available in weights of 5, 10, 20, 50, and 100 grams. They are sold in special protective packaging and have unique serial numbers. These bars are used for long-term investments, capital preservation, and even as an inheritance asset.
According to the Central Bank, the price of a 5-gram gold bar is now 5,989,000 soums, while a 10-gram bar costs 11,978,000 soums. Additionally, since January 17, 2025, 100-gram gold bars have been introduced for sale in Uzbekistan, with their price reaching 119,776,000 soums as of February 3.
According to the World Gold Council (WGC) July 2024 report, global gold demand decreased by 6% in the second quarter compared to the previous year, amounting to 929 tons. Nevertheless, central banks continued purchasing gold. The largest buyers include the National Bank of Poland (19 tons), the Reserve Bank of India (19 tons), and the Central Bank of Turkey (15 tons).
Experts believe that the rise in gold prices is linked to geopolitical instability, inflation risks, and the increasing demand for safe-haven assets among investors.
Gold bars are investment instruments made of 999.9 fine gold, available in weights of 5, 10, 20, 50, and 100 grams. They are sold in special protective packaging and have unique serial numbers. These bars are used for long-term investments, capital preservation, and even as an inheritance asset.
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