Uzbekistan added 8.4 tons of gold to its holding in December 2021 after a sale of 21.5 tons the month before, follows from the latest data provided by the World Gold Council.
The WGC notes that such purchases and sales are common for Uzbekistan due to its active management of gold reserves.
According to the report, Turkey was the biggest buyer in December, adding 10.1 tons of gold to its reserves. That boosted the country’s total gold holdings to 10.1 tons. Turkey was a big seller in the third quarter of last year, but appears to be replenishing its reserves.
The biggest seller in December was Kazakhstan – 4.8 tons.
Sri Lanka sold 3.6 tons. According to the WGC, the sale represented around half of the country’s gold reserves and was done to help bolster the liquidity of its foreign reserves after they hit a 12-year low in November. However, the door was left open to future gold purchases when foreign reserves have increased.
According to the Central Bank of Uzbekistan, the country’s official reserve assets currently amount to $35.1 billion. The republic’s gross international reserves have increased by $235.2 million or 0.7% since the beginning of 2021.
At present, the share of gold in the country’s total reserves is 59.5% or $20.94 billion. Its volume is 11.6 million troy ounces.
