Gold bar prices reach a new high for the third time in January

One gram of gold is now priced at 1,196,980 UZS, a 0.95% increase from the previous day and a 5.7% rise since the beginning of the year. A 5-gram gold bar costs 5.985 million UZS, while a 100-gram bar is priced at 119,698,000 UZS.

Global market prices for the precious metal are also at peak levels, with a troy ounce being sold for $2,795, or $89.88 per gram.

The Central Bank began selling gold coins to the public in 2018, and two years later, it expanded the offering to include gold bars. Individuals were allowed to export these items from Uzbekistan under specific conditions.

These actions were aimed at reducing Uzbekistan’s reliance on foreign currencies. Additionally, experts suggest that increased access to gold would provide greater investment opportunities and offer a safeguard for savings.

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

According to the latest available data from the Central Bank, by September 2023, 255 kg of standard gold bars were in circulation in Uzbekistan. The most popular were the 10-gram bars.

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