On Friday, January 24, the prices of gold bullion reached a new high. This information was reported by the Central Bank.
The price of one gram of gold is now 1,193,230 sums, which is 0.84% higher than the previous day. A 5-gram bar is sold for 5,966 sums, having increased by 5.4% over the first three weeks of the year.
Last week, the Central Bank released 100-gram bullion bars for sale. The regulator stated that this would enhance investment opportunities for the public.
Global prices for the precious metal are once again nearing peak levels. A troy ounce is valued at $2773 (equivalent to $89.16 per gram), up by 0.5% for the day.
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 permitted to export them from Uzbekistan, subject to certain conditions.
These measures were explained as a desire to reduce the Uzbek economy's dependence on foreign currency. Additionally, experts believe that access to gold will broaden investment opportunities and help safeguard savings.
Coins and bars can be bought and sold through commercial banks—Spot has published relevant instructions. Prices are updated daily and are available on the Central Bank's website and in their Telegram bot.
According to the latest published data from the Central Bank, as of September 2023, Uzbekistanis held 255 kg of bullion bars. The most popular were the 10-gram bars.
Between 2021 and 2023, the Central Bank minted 3,550 gold commemorative coins in five series, weighing a total of 72 kg. In October 2024, the regulator sold off all coins that had been issued up to that point.
Earlier, Spot reported on how Uzbekistan's gold and foreign exchange reserves changed in 2024.