TASHKENT, Uzbekistan, January 6. Uzbekistan has maintained its status as the largest seller of gold in the world in November 2023, Trend reports.
The data of the World Gold Council shows that the Central Bank of Uzbekistan sold 11 tons of gold in November 2023, ranking first among the top gold selling countries.
The net volume of precious metal purchases from Uzbekistan by central banks of other countries amounted to 44 tons in November 2023. The total volume of purchases amounted to 60 tons, decreasing by 4 percent compared to October 2023. However, this is significantly higher than the monthly average of 36 tons year-on-year.
The largest buyer of gold was the Central Bank of Türkiye (25 tons), followed by Poland (19 tons), China (12 tons), the Czech Republic (3 tons) and Kyrgyzstan (1 ton).
The data of the State Statistics Committee of Uzbekistan shows that the country exported $1.28 billion worth of gold in November 2023. Revenue from the export of gold reached $8.15 billion from January through November 2023, which is 2.3 times more year-on-year.
According to the Central Bank of Uzbekistan, the country's gold and foreign exchange reserves totaled $32.8 billion as of December 1, 2023.
As per data by Uzbekistan’s Central Bank, the set price of gold is currently at a new maximum level since the beginning of sales in 2020.
One gram of gold in Uzbekistan is currently estimated at 840,400 soums ($67.97).