Gold prices continue to climb, reaching new all-time high in Uzbekistan

As of Monday, one gram of gold is priced at 1,150,040 UZS, representing a 0.1% increase from the previous record set on Friday. A five-gram gold bar is now being sold for 5.75 million UZS.

The ongoing rise in gold prices follows a brief dip in late September. On the global market, gold continues to set new records as well, with one troy ounce currently valued at $2,730, or approximately $87.78 per gram.

The Central Bank of Uzbekistan began offering gold coins for public purchase in 2018, and in 2020, it introduced gold bars. Uzbek citizens are permitted to export these bars and coins from the country, provided they meet the required regulations.

These measures were implemented to reduce Uzbekistan’s reliance on foreign currency and to offer citizens more options for investment, with experts noting that access to gold provides a safeguard for personal savings.

Gold bars and coins can be bought and sold through commercial banks, with updated prices available daily on the Central Bank’s website and Telegram bot. As of September 2023, Uzbekistan residents collectively held 255 kilograms of gold bars, with 10-gram bars being the most popular among buyers.