WGC: Uzbekistan becomes world's largest gold seller in February
WGC: Uzbekistan becomes world's largest gold seller in February
Uzbekistan became the world’s largest gold seller in February, the World Gold Council reports. The Central Bank of Uzbekistan made a net sale of 12 tonnes of gold. Kazakhstan ranked second, selling 8 tonnes of the precious metal.
Back in January, Uzbekistan had emerged as the world’s top gold buyer, purchasing 8 tonnes — ahead of China and Kazakhstan. At that time, major gold sellers included the central banks of Russia and Jordan, and Kyrgyzstan.
According to the National Statistics Committee, after taking a pause in January, Uzbekistan sold $1.73 billion worth of gold in February — a 31.3% increase compared to the same period in 2024. Moreover, the Central Bank’s foreign exchange and gold reserves have hit record highs for the second month in a row, exceeding $47 billion. In March, international assets grew by $2.91 billion, while foreign currency reserves surpassed $10 billion. However, both the tonnage and value of gold reserves saw a slight decline.
In February, global central banks increased their gold reserves by 24 tonnes. Poland led gold purchases, adding 29 tonnes — marking its 11th consecutive month of net buying. China followed with 5 tonnes, while Turkey and Jordan each bought 3 tonnes, and Qatar and the Czech Republic acquired 2 tonnes apiece.
.png "YouTube UZREPORT TV")
