Data published by the World Gold Council indicates that the Central Bank of Uzbekistan has purchased an additional eight tons of gold over the course of the month. This brings the total volume of gold acquisitions since the beginning of the year to nearly 50 tons, continuing the authorities' persistent accumulation policy.

At present, gold accounts for an overwhelming 90 percent of Uzbekistan's international reserves, translating to approximately 439 tons of the precious metal. This heavy reliance on a single asset class highlights potential structural vulnerabilities within the nation's financial portfolio.

Meanwhile, figures released by the country's central bank reveal that official reserve assets experienced a sharp decline in September. Total reserves allegedly dropped by $5.5464 billion, falling steeply from $72.135 billion down to $66.5886 billion.

According to official explanations, the contraction of the reserves was primarily driven by a decrease in the global market value of gold held within the portfolio. However, officials claim that the simultaneous increase in the physical volume of the metal helped marginally mitigate the adverse financial impact.

Source: uznews.uz