Uzbekistan’s Central Bank purchased 26t of gold in Q3, the World Gold Council has reported. This made the republic the second larger buyer of gold after Turkey purchased 31t of gold in the same period topping the list. India made it the third country with 17t.
Uzbekistan has been a consistent buyer of gold over the past two quarters, with y-t-d net purchases now at 28t.
Since the advent of 2022, central banks have purchased 673t of gold, the record number since 1967.
Gold prices fell by 8% in the third quarter. Gold was traded below $1,650 an ounce yesterday. Since mid-April, world gold prices have been steadily declining.
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