Central Bank reports significant growth in digital gold trading through metal accounts

According to the regulator, the total value of gold deposits held in these electronic accounts reached UZS 311.7 billion by the end of 2025. This financial volume represents a total gold equivalent of 169.74 kilograms. The growth in digital holdings follows a record year for the gold market, with sales of measured gold bars in 2025 surpassing the total figures of the previous five years combined.

The current framework, established by a resolution from Central Bank Chairman Timur Ishmetov – and formally approved by the Ministry of Justice – enables individuals to purchase and sell gold and silver in increments as small as 0.1 grams. These transactions are conducted entirely through mobile banking applications. Currently, two major financial institutions, the National Bank of Uzbekistan (NBU) and Uzsanoatqurilishbank, offer these specialized accounts to the public.

Unallocated metal accounts function by tracking precious metals solely in grams, omitting serial numbers or specific physical identifiers. While commercial banks set their own prices for buying and selling, which may fluctuate throughout the working day, all accounts undergo a daily revaluation. This process is based on the fixing quotes provided by the London Bullion Market Association (LBMA), ensuring that local digital holdings remain aligned with international market standards.

To participate in electronic precious metal trading, users must undergo a verification process within their respective banking application. Once identified, customers can execute trades using linked bank cards, personal accounts, or electronic wallets.