According to the Central Bank of Uzbekistan, gold bullion sales in the country reached 661 kg in 2025, nearly triple the 236 kg recorded in 2024. This significant increase reflects growing public interest in gold investments and the expansion of the banking sector's capabilities in handling precious metals.

From November 2020 to December 30, 2025, commercial banks sold 65,150 gold bullion bars to the public, with a total weight of 1.2 tons. The number of banks engaged in selling and repurchasing bullion rose from 12 in 2020 to 19 in 2025, while sales outlets expanded from 34 to 170, indicating a broader market reach and increased accessibility for consumers.

The regulator's review noted that over 60% of sales were for bars weighing 5 and 10 grams, highlighting the preference among small-scale investors. In quantitative terms, 33,939 bars were sold in 2025 alone, underscoring a robust demand trend compared to previous years.

During the 2020–2025 period, banks also repurchased 11,828 bars from the public, totaling 201 kg, with approximately 65% of these being 5- and 10-gram bars. This repurchase activity points to gold's role as a liquid asset that can be easily traded back, providing flexibility for investors.

Earlier reports indicated that Uzbekistan's exports contracted by over 23% in January–February 2026, with a negative trade balance reaching $4.5 billion, potentially linked to a lack of gold sales in recent months. In 2025, gold accounted for 29.3% of total exports, with historical fluctuations showing 28.2% in 2019, 38.3% in 2020, 24.7% in 2021, 21.3% in 2022, 32.8% in 2023, and 27.8% in 2024, revealing the economy's vulnerability to shifts in gold export volumes.

Source: kun.uz