Uzbekistan actively buying gold – WGC

A number of central banks around the world increased their gold reserves in June, Kitco reports citing the World Gold Council.

The largest buyer, according to analysts, was the People's Bank of China. Over the past month, it purchased 21 tons of gold, increasing its total volume to 2,113 tons.

The second place is occupied by the Central Bank of Poland with approximately 13 tons. At the end of the half-year, its gold reserves amounted to 276 tons.

In addition to them, the Turkish Central Bank entered the top 3 in gold purchases, which began to restore reserves after selling 159 tons in the previous three months. In June, it purchased 11 tons of gold.

Next comes Uzbekistan, which also increased its stock for the first time since February. In June, the volume of gold purchases amounted to 8 tons.

The National Bank of the Czech Republic closes the top five with 3 tons. June purchases of the precious metal for it were the largest, amounting to almost half of the total since the beginning of the year.

According to the Central Bank of Uzbekistan, the tonnage of the national gold reserve increased by 6.2 tons over the past month. However, due to a slight decrease in quotations, its value dropped by $137 million.

In previous months, the republic actively exported the precious metal. In May alone, the volume of deliveries reached $1.3 billion, and since the beginning of the year, it has grown by 47.3% compared to the same period last year, to $4.37 billion.