In November, the Central Bank of Uzbekistan boosted its gold reserves by 9 tons.

This step is part of a global trend where central banks around the world are actively increasing their gold reserves.

In November, the net gold purchases by global central banks amounted to 53 tons, continuing the trend observed throughout 2024.

Among the largest gold buyers are the National Bank of Poland, which boosted its reserves by 21 tons, as well as the Reserve Bank of India, Kazakhstan, and China, each acquiring 5 tons of gold.

In contrast, the largest seller of gold was Singapore, which sold 5 tons.

Amid global economic factors, such as falling gold prices due to the U.S. presidential elections, many countries, including Uzbekistan, seized the opportunity to replenish their reserves.

As of December 1, 2024, Uzbekistan's international reserves totaled $41.47 billion, which is $1.67 billion less than the previous month. The decline in gold and foreign currency reserves is attributed to the depreciation of gold assets and a reduction in the currency component of the country’s reserves.