Uzbekistan's Central Bank updates gold bar prices as sales of commemorative coins end

On Thursday, the Central Bank announced updated prices for gold bars, with notable changes reflecting the ongoing rise in gold values. Notably, prices for commemorative coins were removed from the bank’s announcements, and the availability of these coins has disappeared from the regulator’s website. According to the Central Bank’s press service, all commemorative coins have been sold out.

The price of gold increased slightly by 0.001%, reaching 1,161,600 UZS per gram. Since the beginning of the year, gold prices have surged approximately 39%, indicating a sustained trend in the precious metal market. The price adjustments also affected gold bars of various weights: 5 grams are now priced at 5,808,000 UZS, 10 grams at 11,615,000 UZS, 20 grams at 22,231,000 UZS, and 50 grams at 58,077,000 UZS.

The Central Bank began selling gold coins to the public in 2018, followed by the introduction of gold bars in 2020. These purchases are subject to specific conditions, allowing individual buyers to export them from Uzbekistan. The measures aim to reduce the Uzbek economy's dependence on foreign currency while providing citizens with investment opportunities and a means to safeguard their savings.

Gold coins and bars can be bought and sold through commercial banks. Daily price updates are published on the bank’s website and through its Telegram bot.

According to the latest data released by the Central Bank, as of September 2023, citizens of Uzbekistan possessed 255 kilograms of gold bars, with 10-gram bars proving to be the most popular. From 2021 to 2023, the Central Bank minted 3,550 commemorative gold coins across five series, weighing a total of 72 kilograms, with 83% of these sold by mid-September of last year.