Uzbekistan suspends gold sales

Uzbekistan has again suspended the sale of gold, according to the State Committee on Statistics, Report informs referring to Uzbek media.

Due to the fall in gold prices on the world market in autumn 2020, Uzbekistan stopped exporting gold. In May this year, the price of gold exceeded $1,900 per ounce. After that, Uzbekistan resumed the export of gold and sold gold abroad for almost $1.2 billion, and in June - for $191 million.

The current gold price is $1,782 per ounce. In this regard, the Central Bank of Uzbekistan again suspended the sale of gold.

The official reserve assets of Uzbekistan as of August 1, 2021, amounted to $35.1 billion, having increased by $965 million over the month.

The share of gold in the reserves, according to the latest data, is $21.5 billion. This is almost 367 tons of gold. There are 332.8 tons of gold in the republic's reserves. Gold in reserves also increased by 9.3 tons.