In September 2025, Uzbekistan stood out as the world’s only country to sell gold, while most other nations continued to expand their bullion reserves, according to the World Gold Council, Daryo.uz reports
Global central banks collectively purchased 39 tons of gold during the month, bringing total acquisitions since the beginning of the year to 200 tons — slightly below the 215 tons recorded in the same period of 2024. The Central Bank of Brazil led the buyers with 15 tons, followed by Kazakhstan (8 tons), Guatemala (6 tons), and Russia (3 tons). Turkey, China, the Czech Republic, and Ghana each added 1–2 tons to their holdings.
Uzbekistan, in contrast, reduced its reserves by 4 tons, becoming the only country to do so. According to the National Statistics Committee, the republic exported gold worth $1.5 billion in September alone and nearly $9.9 billion from January to September 2025 — a 70.9% increase compared to the same period last year, marking a historic high.
As of October 1, 2025, Uzbekistan’s foreign exchange and gold reserves reached $55 billion, the highest in the country’s history. Of that amount, $44.2 billion came from gold holdings (up from $40 billion in August), while the rest consisted of foreign currency and securities.
The rise in the total value of reserves reflects a global surge in gold prices, even as Uzbekistan’s physical stock of gold declined to 11.6 million ounces (409 tons) — down from 12.3 million ounces (433.8 tons) a month earlier.
CentralasianLIGHT.org
November 6, 2025