Global quotes for the precious metal have approached the mark of $2,300 per troy ounce.
The prices for gold bars and commemorative coins are hitting record highs for the fifth consecutive working day, according to the Central Bank.
On Thursday, April 4, the cost of 1 gram of gold reached the 972,460 UZS mark, an increase of 5,800 UZS, or 0.6%, for the day. A five-gram gold bar now costs 4,862,000 UZS.
Since the start of the year, precious metal prices in Uzbekistan have risen by 14.7%. The day before, quotes on world exchanges reached $2,297 per troy ounce or $73.87 per gram.
The Central Bank began selling gold coins to the public in 2018, and gold bars joined the offering two years later. Physical buyers were allowed to take them out of Uzbekistan, provided certain conditions were met.
These steps were explained by the desire to reduce the Uzbek economy's dependence on foreign currency. In addition, according to experts, access to gold will expand investment opportunities and help protect savings.
Coins and bars can be purchased and sold through commercial banks — Spot has published corresponding instructions. Their prices are updated daily and published on the Central Bank's website and in a Telegram bot.
According to the Central Bank, since 2020, Uzbekistani citizens have purchased 255 kg of measured gold bars. Ten-gram bars proved to be the most popular.
