Uzbekistan among top gold sellers in 2023

Uzbekistan was the world's second-largest gold seller in 2023, with a net sale of approximately 25 tons of the precious metal, following Kazakhstan, which topped the list with around 50 tons sold.

Photo: David Gray/Bloomberg

The World Gold Council (WGC) data for the year references Uzbekistan as trailing slightly behind Kazakhstan, securing the second position in global gold sales.

China led the list in purchases, acquiring a staggering 230 tons, followed by Poland, Singapore, Libya, and the Czech Republic.

December witnessed a rise of 28 tons in the gold and foreign currency reserves of central banks worldwide, signaling a continuation in the trend of purchasing gold. Türkiye was a significant buyer, adding 18 tons to its reserves.

For information, Uzbekistan sold gold worth $8.2 billion in 2023, nearly doubling the previous year's figures. This recent spike contrasts with the sales in preceding years: $4.1 billion in both 2021 and 2022, $5.8 billion in 2020, and $4.9 billion in 2019.