On Friday, February 14, the prices of gold bullion reached a new record high. This was reported by the Central Bank.
One gram of the precious metal is priced at 1,254,900 sums, which is an increase of 0.96% in just one day. A 5-gram bar is offered at 6.275 million sums, while the 100-gram bar that was launched for sale in January costs 125.49 million sums.
Since the beginning of the year, gold bars have set price records for the ninth time, with an overall increase of 10.8%. Compared to the same day last year, the increase was 49.99%.
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 are allowed to take them out of Uzbekistan, provided certain conditions are met.
These measures were explained by the desire to reduce the Uzbek economy's dependence on foreign currency. Furthermore, 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 relevant instructions. Prices are updated daily and are published 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 bars. The most popular were the 10-gram bars.
From 2021 to 2023, the Central Bank minted 3,550 gold commemorative coins across five series, totaling 72 kg. In October 2024, the regulator sold all the coins that had been issued up to that point.
Earlier, Spot reported that in January, Uzbekistan's gold reserves set a new record in value—exceeding $35 billion.