Central Bank starts publishing buyback prices for gold bars

The Central Bank of Uzbekistan has begun publishing buyback prices for standardized gold bars. Previously, the regulator regularly updated information on daily selling prices for gold bars. The practice of disclosing buyback prices for the precious metal has now also been introduced.

Prices are set based on the condition of the bar’s packaging. As of January 5, the gap between selling and buyback prices for bars of all weights stands at about 3.9% for bars with intact packaging and around 4.9% for those with damaged packaging.

Specifically, the selling price of a 5-gram gold bar is set at UZS 8,735,000. The buyback price amounts to UZS 8,395,000 if the packaging is intact, and UZS 8,311,000 if the packaging is damaged or the bar does not meet technical requirements.

For reference, the Central Bank of Uzbekistan began issuing commemorative gold and silver coins in 2018. Since November 2020, Uzbek residents have also been able to store savings in the form of gold bars, as the Central Bank launched sales of 5-, 10-, 20-, and 50-gram gold bars through commercial banks.

Gold bar prices are reviewed by the Central Bank during the day based on conditions in the international precious metals market. Accordingly, prices are subject to ongoing fluctuations.