Central Bank reports record high prices for gold bars

On Friday, January 24, the prices of standard gold bullion reached new record highs, according to the Central Bank.

A gram of gold is now valued at 1,193,230 UZS, marking a 0.84% increase compared to the previous day. A 5-gram gold bar is being sold for 5,966,000 UZS, reflecting a 5.4% price increase since the start of the year.

Last week, the Central Bank introduced 100-gram gold bullion bars for sale, stating that this move aims to enhance investment opportunities for the population.

Global precious metal prices are once again nearing their peak levels. An ounce of gold is valued at $2,773 (equivalent to $89.16 per gram), showing a 0.5% increase in just one day.

The Central Bank began selling gold coins to the public in 2018, followed by gold bullion two years later. Individual buyers are permitted to export these items from Uzbekistan, provided they comply with regulations.

These measures were explained as part of an effort to reduce the Uzbek economy’s dependence on foreign currency. Additionally, experts believe that access to gold will broaden investment opportunities and help safeguard savings.