TASHKENT, Uzbekistan, January 27. A total of 1.8 tons of precious metals were sold through the exchange in Uzbekistan in 2023, Trend reports
During this period, the Uzbek Republican Commodity and Raw Materials Exchange traded gold worth 1.135 trillion soums ($91.3 million) and silver at 2.6 billion soums ($209,255). Thus, total sales revenue in 2023 was 1,138 trillion soums ($91.5 million). This figure is 2.2 times higher year after year.
Manufacturers of industrial items and jewelry, as well as individual businesses, are among the largest importers of precious metals. This trend suggests a growing interest in precious metals as an investment vehicle and a material for diverse products.
Meanwhile, Uzbekistan remained the world's largest gold seller in November 2023 whose gold exports surged by 98.4 percent year on year in 2023, reaching $8.15 billion.
According to the Central Bank of Uzbekistan, the country's gold and foreign exchange reserves totaled $34.56 billion as of January 1, 2024, up $1.66 billion from December 2023.