BAKU, Azerbaijan, May 24
By Klavdiya Romakayeva - Trend:
Uzbekistan has still not resumed its gold sales since last year, Trend reports with reference to the State Statistics Committee of Uzbekistan.
The last time the country exported gold was in August 2020.
At the end of April, Deputy Chairman of the Board of the Central Bank, Behzod Khamraev said that gold sales would resume in Uzbekistan when the Central Bank considers the gold price to be peaking.
As of May 24, gold is worth $1,887 an ounce. It is noted that the price is not as high as it was in the summer of 2020 (around $2,000), but it's not as cheap as it was in early 2021 (around $1,750).
Also, it was noted that in many countries, gold producers export it themselves, but in Uzbekistan the only seller is the Central Bank - it buys gold from producers (for example, Navoi Mining and Metallurgical Combine), and exports it to other countries (mainly to Switzerland).
Earlier it was reported that the volume of gross gold and foreign exchange reserves of Uzbekistan as of April 1 amounted to $32.6 billion, having decreased by $589.1 million over the month.
According to the CBU, the volume of gross gold and foreign exchange reserves of Uzbekistan has decreased by $2.2 billion since the beginning of the year.
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