The Central Bank updated the prices of gold bars on Thursday, October 24. Since yesterday, the announcement has removed the prices for commemorative coins made of gold and silver.
Additionally, information about the remaining coins has disappeared from the regulator's website, with the last update date noted as October 22. The press service of the Central Bank Spot stated that the commemorative coins are sold out.
The price of one gram of gold has increased by 0.001% — reaching 1,161,600 sums. The precious metal has been rising in price for ten consecutive working days and has gained about 39% in value since the beginning of the year.
In turn, the changes have affected the prices of gold bars weighing 5 (5.808 million sums), 10 (11.615 million), 20 (22.231 million), and 50 grams (58.077 million).
The Central Bank began selling gold coins to the public in 2018, and two years later, gold bars were added to the offerings. Individual buyers were allowed to export them from Uzbekistan, subject to certain conditions.
These measures were explained by the desire to reduce the Uzbek economy's dependence on foreign currency. Additionally, experts say that access to gold will expand investment opportunities and help safeguard savings.
Coins and bars can be bought and sold through commercial banks — Spot has published the corresponding instructions. Prices for them are updated daily and posted on the Central Bank's website and in the Telegram bot.
According to the latest published data from the Central Bank, as of September 2023, Uzbekistan residents held 255 kg of standard bars. The most popular were the 10-gram bars.
From 2021 to 2023, the Central Bank minted 3,550 gold commemorative coins in five series, totaling 72 kg. By mid-September last year, 83% of these had been sold out.
Earlier, Spot reported that the Central Bank had sold out all its stocks of commemorative coins made of gold and silver.