In November 2025, Uzbekistan became one of the world's top three gold buyers: according to the latest report from the World Gold Council, the country's central bank purchased 10 tons of the precious metal in the month, UzDaily.uz reports.
According to the organization, total net gold purchases by central banks in November amounted to 45 tons. The increase in demand was largely driven by the actions of emerging market regulators, who continue to actively increase their gold reserves amid global economic uncertainty.
For the second month in a row, Poland remained the largest buyer, increasing its reserves by 12 tons. Brazil followed with purchases of 11 tons. Uzbekistan ranked third with 10 tons, confirming its status as one of the most active market participants among emerging economies.
Kazakhstan was also a notable buyer, increasing its reserves by 8 tons. More moderate purchases were recorded in the Czech Republic, China, and Indonesia.
In November, central banks reduced their gold sales, with Jordan alone reducing its reserves by 2 tonnes, and Qatar selling 1 tonne.
The report also notes that for the full year, Uzbekistan remains among the top three gold sellers globally, behind only Singapore and Russia, underscoring the country's flexible strategy in managing its foreign exchange and gold reserves.
CentralasianLIGHT.org
January 14, 2026