Gold bars and coins continue rising in price in Uzbekistan

The upward trend in prices for gold bars in Uzbekistan continues, Spot writes with reference to the Central Bank.

As of January 9, a 5-gram bar is valued at 3,539,000 soums, which is 707.8 thousand soums per gram. The previous time such quotes were noted was on May 25, although after that they approached the mark several times.

Commemorative coins have also risen in price significantly. For example, a 15-gram coin now costs 10,717,000 soums – such prices have been noted for the first time since April 27.

In March-April 2022, the price of a 5-gram gold bar at its peak reached 3.75 million soums. However, in the following months, the precious metal quotes dropped by 16%, dipping to a low in early November.

With the onset of winter, the value of gold increased dramatically. Over the first two days of December, it has risen in price by about 4.5%. For example, a 5-gram bar on December 2 cost 3.377 million soums instead of 3.232 million soums.

As the gold prices started to rise in the world market, Uzbekistan resumed gold exports after a seven-month hiatus. In November, the Central Bank sold about 2 tons of gold for $557 million.