Demand for gold in Uzbekistan hits record highs as 2025 sales eclipse five-year total

According to a recent review by the regulator, banks sold 661 kg of gold bars last year, reflecting a significant shift in the investment behavior of the population.

From November 2020 to December 30, 2025, a total of 65,150 gold bars weighing 1.2 tons were sold to the public through commercial banks. The infrastructure supporting these transactions has expanded rapidly to meet rising demand, with the number of banks handling gold operations increasing from 12 to 19, while the number of sales outlets grew from 34 to 170 across the country.

The data highlights that 2025 was a landmark year for the domestic gold market. During this twelve-month period, banks sold 33,939 bars with a total weight of 661 kg. This figure is 8.7% higher than the 31,211 bars sold collectively between 2020 and 2024. Experts attribute this growth primarily to global gold prices approaching historic highs during 2024-2025, which encouraged citizens to view gold as a reliable tool for savings and investment.

Consumer preferences show a clear lean toward smaller, more accessible denominations. Bars weighing 5 and 10 grams accounted for more than 60% of all sales, suggesting that compact gold units have become the most convenient accumulation instrument for the general public. To further diversify the market, 100-gram bars were introduced into circulation in 2025.

The liquidity of the market remains high, as banks also provide buyback services. Between 2020 and 2025, financial institutions repurchased 11,828 gold bars weighing 201 kg from the public. This process was further simplified in 2025 with the introduction of digital mechanisms allowing for the purchase, buyback, and storage of gold through mobile banking applications. Additionally, the launch of electronic metal accounts has made it possible for individuals to acquire gold in amounts as small as 0.1 grams.

To ensure security and prevent counterfeiting, all gold bars are supplied in special protective packaging. They feature modern security elements, including QR codes, crypto-printing, and unique serial numbers, allowing for easy authentication and increased transparency in every transaction.