The price of gold bullion reached a new record on Thursday, January 23, as reported by the Central Bank.
A 5-gram ingot is valued at 5.916 million sums. The price per gram of the precious metal stands at 1,183,230 sums, which is 0.6% higher than the previous day. In less than three weeks since the beginning of the year, gold has increased in price by 4.5%.
Last week, the Central Bank released 100-gram ingots for sale. The regulator stated that this would enhance investment opportunities for the public.
On the global market, the prices of precious metals are rising again. The price of a troy ounce on exchanges is around $2,750 (equivalent to $88.48 per gram), and at its peak in the last 24 hours, it approached $2,760.
The Central Bank began selling gold coins to the public in 2018, and two years later, gold ingots were added to the offerings. Individual buyers are allowed to export them from Uzbekistan, under 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 ingots can be bought and sold through commercial banks—Spot has published the relevant instructions. Prices are updated daily and are available 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, Uzbekistanis held 255 kg of gold ingots. The most popular were the 10-gram ingots.
Between 2021 and 2023, the Central Bank minted 3,550 gold commemorative coins in five series, totaling 72 kg. In October 2024, the regulator sold all the coins released up to that point.
Earlier, Spot reported that NGMC increased gold production by 39% in 2024.