The Central Bank of Uzbekistan and the National Bank of Kazakhstan are leading countries in gold sales.
When Kazakhstan reduced its gold reserves by about 4 tons to 380 tons (-5 percent year-on-year).
Uzbekistan's gold reserves decreased by almost 2 tons in November and amounted to 397 tons.
In November, Uzbekistan exported $556.7 million worth of gold for the first time in seven months. The country last exported this precious metal in March. The State Statistics Committee reports.
Global gold prices were set at around $2,050 in March. However, due to the geopolitical situation, prices fell below $1,650 during the year.
Uzbekistan began to buy more gold and became one of the world leaders in purchasing precious metals.
“There are two factors: the current price and the future price. Is the price going up or is it peaking and going down? This is the moment we are looking for. If the price is rising, it is better to wait," said Behzod Hamroyev, deputy chairman of the Central Bank of Uzbekistan.
By November, the situation improved somewhat, and gold prices in the world rose to $1,800. From this period, Uzbekistan started selling gold again.
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