{"id":12385,"date":"2025-11-06T11:12:01","date_gmt":"2025-11-06T06:12:01","guid":{"rendered":"https:\/\/frank.uz\/bez-kategorii\/uzbekistan-is-the-sole-gold-seller-in-september\/"},"modified":"2025-11-06T11:12:01","modified_gmt":"2025-11-06T06:12:01","slug":"uzbekistan-is-the-sole-gold-seller-in-september","status":"publish","type":"post","link":"https:\/\/frank.uz\/en\/news-en\/uzbekistan-is-the-sole-gold-seller-in-september\/","title":{"rendered":"Uzbekistan is the sole gold seller in September"},"content":{"rendered":"<h3>Why is this important<\/h3>\n<p>The sale of 21 tons in 9 months ($1.4 billion at a price of $2600\/ounce) supported the sum, covered the trade deficit, and replenished currency reserves. Uzbekistan ranks seventh in the world in terms of production (~100 tons\/year), can allow for sale. Since summer, the Central Bank has switched to buying &#8211; a signal about stabilizing the economy and strengthening reserves. World central banks purchased 43 tons in September \u2014 a 2025 record, indicating the trend of moving away from the dollar to gold.   <\/p>\n<h3>What happened<\/h3>\n<ul>\n<li>The Central Bank of Uzbekistan sold 4 tons in September \u2014 the only seller;<\/li>\n<li>In 9 months, he sold 21 tons \u2014 the largest seller, ahead of Singapore, Russia;<\/li>\n<li>World central banks purchased 43 tons: Brazil +15, Kazakhstan +8, Guatemala +5;<\/li>\n<li>Since summer, the Central Bank has changed its strategy \u2014 switched to buying.<\/li>\n<\/ul>\n<h3>Sale of gold<\/h3>\n<ul>\n<li><strong>September: <\/strong>-4 tons (128,500 ounces at $2600\/ounce = $334 million).<\/li>\n<li><strong>9 months: <\/strong>-21 tons (675,000 ounces = $1.4 billion).<\/li>\n<li><strong>Why did I sell: <\/strong>supporting the soum (strengthening from 12,800 to 11,972 per dollar), covering the trade deficit, replenishing currency reserves ($55 billion).<\/li>\n<\/ul>\n<h3>Change strategy in summer<\/h3>\n<p>Since summer, the Central Bank has shifted from selling to buying gold. Reasons:<\/p>\n<ul>\n<li>Stabilization of the soum \u2014 mass interventions are no longer necessary;<\/li>\n<li>Gold price increase to $2600+ \u2014 it&#8217;s profitable to save as a protective asset;<\/li>\n<li>Reserve strengthening \u2014 diversification from dollar to gold.<\/li>\n<\/ul>\n<h3>World Central Banks<\/h3>\n<ul>\n<li><strong>September: <\/strong>43 tons purchased \u2014 a 2025 record.<\/li>\n<\/ul>\n<p><strong>Top buyers:<\/strong><\/p>\n<ul>\n<li>Brazil +15 tons;<\/li>\n<li>Kazakhstan +8 tons;<\/li>\n<li>Guatemala +5 tons;<\/li>\n<li>Russia, Turkey, Czech Republic, China, Ghana \u2014 small volumes.<\/li>\n<\/ul>\n<p><strong>Trend: <\/strong>Central banks are shifting from dollar to gold due to geopolitical instability, inflation, and sanctions.<\/p>\n<h3>Uzbekistan is the largest seller<\/h3>\n<ul>\n<li><strong>For 9 months: &#8211;<\/strong>21 tons \u2014 first place in the world, ahead of Singapore, Russia.<\/li>\n<li><strong>Share in reserves:<\/strong> Uzbekistan produces ~100 tons\/year, CB reserves ~300-400 tons. Sales of 21 tons \u2014 5-7% of reserves, not critical. <\/li>\n<li><strong>The reason:<\/strong> support for the sum, covering the trade deficit ($5+ billion for 9 months).<\/li>\n<\/ul>\n<h3>Context<\/h3>\n<ul>\n<li>Gold is a protective asset: central banks accumulate gold to protect against the dollar, inflation, and sanctions. Uzbekistan sold to support the soum, but switched to buying from summer. <\/li>\n<li><strong>Gold price:<\/strong> rising from $1800 (2023) to $2600+ (2025) made sales profitable. $1.4 billion from the sale of 21 tons supported the sum, covering the deficit. <\/li>\n<li><strong>The strengthening of the soum: <\/strong>the dollar fell from 12,800 to 11,972 in 9 months due to gold, transfers ($13.9 billion), and the Central Bank&#8217;s strict policy (rate of 14%).<\/li>\n<li><strong>Strategy change:<\/strong> since summer, the Central Bank has switched to buying gold \u2014 a signal about stabilizing the economy, strengthening reserves, and diversifying from the dollar.<\/li>\n<li><strong>Global trend:<\/strong> central banks purchased 43 tons in September \u2014 a 2025 record. Brazil, Kazakhstan, and Guatemala are actively accumulating gold to protect themselves from geopolitical instability. <\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>The Central Bank of Uzbekistan sold 4 tons of gold in September \u2014 the only seller in the world.<\/p>\n","protected":false},"author":4,"featured_media":8564,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_sharing_image":{"poster":"https:\/\/frank.uz\/wp-content\/uploads\/2025\/11\/690ddd9a2cdbb.jpg","width":1200,"height":630,"template":"2bf59057","mode":"auto"},"_sharing_image_fieldset":{"Dv78f24rp1hU":8564,"YlB8HH34jIzY":"Uzbekistan is the sole gold seller in September"},"pin_until":"","footnotes":""},"categories":[2061],"tags":[2081,2079,3573,2197],"class_list":["post-12385","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-en","tag-cb","tag-finance","tag-foreign-exchange-reserves","tag-gold"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.0 (Yoast SEO v25.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Uzbekistan is the sole gold seller in September &#8212; 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