Kyrgyzstan ranked third among the countries that sold the largest volumes of gold in January 2025. According to data from the World Gold Council, the National Bank of Kyrgyzstan sold 1.9 tons of precious metal, trailing only behind the central banks of Russia (3.1 tons) and Jordan (3 tons), reports Akchabar.kg.
Overall, in January, global central banks maintained a strong demand for gold, increasing their total reserves by 18 tons. The main buyers were Uzbekistan, China, and Kazakhstan.
Uzbekistan strengthened its position by purchasing 8.1 tons of gold, bringing its reserves to 391 tons, which accounts for 82% of its total reserves. The People’s Bank of China added 5 tons, increasing its gold holdings to 2,285 tons (6% of reserves). Kazakhstan acquired 3.8 tons, raising its reserves to 288 tons (55% of total reserves).
Other notable buyers included:
- Poland (+3.1 tons)
- India (+2.8 tons)
- Czech Republic (+1.7 tons)
- Qatar (+1.3 tons)
According to the World Gold Council, interest in gold remains high due to geopolitical risks and economic instability. The "Gold Demand Trends 2024" report highlights that since 2022, central banks have actively taken advantage of price declines for purchases, while sales occur during price surges.
CentralasianLIGHT.org
March 5, 2025