In 2025, citizens of Uzbekistan purchased 661 kilograms of gold bars, exceeding the total volume sold over the previous five years. Gold prices surged by 54.5% in soums, making it the most profitable investment in the country, outperforming bank deposits and real estate.

The Central Bank issues 999.9 fineness gold bars in denominations of 5, 10, 20, 50, and 100 grams. Any individual with a passport can purchase them, but resale is only allowed to banks. Since November 2025, the procedure is governed by Central Bank Regulation No. 3698.

Prices are set daily based on the LBMA global price, the soum-to-dollar exchange rate, and the Central Bank's margin covering production costs. The spread (difference between purchase and buyback price) is 3.9% for bars of 10 grams and above, and 6.1% for the 5-gram bar.

No VAT is charged on purchases, and banks do not impose additional fees. For transactions exceeding approximately 190 million soums, banks may require enhanced identification, including proof of income.

Purchases can be made at bank branches (cash, card, transfer) or via mobile app. The bar is delivered in a protective package that also serves as a certificate of authenticity. Opening the package results in a 1% loss on the buyback price and a waiting period of up to 20 business days for expert examination.

Bars can only be sold back to banks. If the packaging is intact, payment is made the same day. Damaged packaging requires examination. If forgery is suspected, the bar is confiscated.

Storage options include home (risky), bank safe deposit boxes (30,000–250,000 soums per month), or custodial storage with the bank (enabling sale via app). A 12% income tax applies theoretically, but the obligation to declare lies with the owner.

Export of gold bars is permitted with the certificate and a customs declaration.

Source: kun.uz