Uzbekistan took first place in the world in gold sales

According to the World Gold Council, Uzbekistan became the largest gold seller in the international market in February, surpassing even Kazakhstan. The country's Central Bank, taking advantage of favorable price conditions, reduced gold reserves by 12 tons.

Kazakhstan took second place - its sales amounted to 8 tons. Thus, both countries led the list of the largest net sellers of precious metals for January-February 2025, selling 4 tons per month.

Despite active sales, gold continues to be a key element of Uzbekistan's financial cushion: at the beginning of March, it accounted for 77.6% of the country's total reserves.

Against the backdrop of rising gold prices in March, Uzbekistan's gold and foreign currency reserves reached a historic record of $47.8 billion, increasing by $2.91 billion. According to analysts, in March alone, the country sold about 11.8 tons of gold.

The dynamics are also confirmed by export data: in February, Uzbekistan exported $1.73 billion worth of gold, which is 31.3% more than in the same period last year.

Uzbekistan is transforming gold into a strategic financial instrument, effectively managing its reserves amid high global volatility.

Powered by Froala Editor