Gold bar prices hit new highs

The Central Bank reports that the price of gold surged nearly 11% in just a month and a half, and 1.5 times over the past year. Gold bars reached a new record high, marking the ninth price increase this year.

As of February 14, the price of one gram of gold has reached 1,254,900 UZS, reflecting a 0.96% increase in just one day. A 5-gram bar is priced at 6.275 million UZS, while a 100-gram bar, which was introduced for sale in January, costs 125.49 million UZS.

Since the beginning of the year, gold bars have set price records nine times, rising by a total of 10.8%. Compared to the same day last year, the price has increased by 49.99%.

The Central Bank began selling gold coins to the public in 2018, and two years later, gold bars were introduced. Private individuals are allowed to export them from Uzbekistan under certain conditions.

These steps are part of an effort to reduce Uzbekistan’s economic dependence on foreign currency. Experts also note that greater access to gold provides expanded investment opportunities and helps safeguard savings.

Gold coins and bars can be bought and sold through commercial banks. Prices are updated daily and published on the Central Bank's website and Telegram bot.

According to the latest data from the Central Bank, as of September 2023, Uzbek citizens held a total of 255 kg of gold bars, with the 10-gram bars being the most popular.

Between 2021 and 2023, the Central Bank minted 3,550 commemorative gold coins across five series, totaling 72 kg. In October 2024, the regulator sold all the coins issued up to that point.

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