Why is this important
The growing demand for gold is an indicator of a decrease in confidence in currencies and a desire to retain capital. The sale of ingots is becoming a popular investment tool among the population. Uzbekistan is among the largest gold reserves holders, and the growth of domestic demand strengthens the role of gold in the economy.
What happened
- Since the beginning of 2025, 17,387 people have purchased a total of 380 kg of measuring bars.
- This is 61% more in volume and 20% more in number of transactions than for the entire year 2024.
- On average, one transaction is 21.85 g of gold or 161.57 million soums.
- Since 2020, the sale of bars has increased by 8.8 times, the number of buyers — by 7.2 times.
- The main growth occurred in 2024: +2.2 times in volume, +2.5 times in number of transactions.
On September 17, the bars once again broke the record:
- 1 g of gold – 1 510 660 soums.
- 5 g – 7.553 million soums (+22 thousand per day)
- Since the beginning of the year, gold in Uzbekistan has increased by 33.4%, and over the year — by 38.3%.
Context
Gold prices are rising amid global economic instability and declining rates in developed countries. In August, Uzbekistan’s gold and foreign exchange reserves exceeded $50 billion for the first time, including $40 billion in gold.
Measurement bills are implemented through banks as part of the strategy for expanding financial instruments for the population. Globally, interest in gold remains as a shelter asset — similar trends are observed in India, China, and Turkey.
