Uzbekistan again took first place in gold sales in the world in March, reports the World Gold Council.
According to public data, net gold purchases by central banks amounted to 16 tons. Demand remained high: the volume of purchases reached 40 tons, sales - 25 tons.
All major buyers were from emerging markets. The Central Bank of Turkey increased reserves by 14 tons, the Central Banks of India and China - by 5 tons each. Next come Kazakhstan and Singapore - 4 tons each.
In March, Uzbekistan sold 11 tons of gold, ahead of Thailand (10 tons) and Jordan (4 tons).
In February, the Central Bank of Uzbekistan also topped the world top by selling 12 tons of gold.
In 2023, Uzbekistan became the second largest seller of gold in the world. Net sales of gold amounted to more than 25 tons, twice as much as Kazakhstan, which took first place.
According to the Statistics Agency, in March Uzbekistan exported gold worth $1.35 billion, since the beginning of the year - by $2.66 billion, which is 41.7% of the country's total exports.
In March, the country's gold and foreign exchange reserves rose to $34.2 billion amid a record rise in gold prices. At the same time, the physical volume of the precious metal in reserves decreased by 10.9 tons and reached its minimum level since May 2022.
CentralasianLIGHT.org
May 6, 2024