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    Uzbekistan

    Uzbekistan takes center stage as top global gold seller with 11 tons of export in October

    Uzbekistan takes center stage as top global gold seller with 11 tons of export in October

    In October, Uzbekistan emerged as the leading global seller of gold, World Gold Council, a prominent industry organization reports.

    Gold bars at the Austrian Gold and Silver Separating Plant 'Oegussa' in Vienna, Austria, March 18, 2016.
    Source: Reuters

    Central banks' net gold purchases in October totaled 42 tons, indicating a deceleration in the trend of acquiring this precious metal. While the volume of gold purchased experienced a 41% decrease compared to September, it still surpassed the average for January - September 2023.

    China secured its position as the primary buyer with a purchase of 23 tons, followed by Türkiye in second place with 19 tons. Poland, India, Czech Republic, Kyrgyzstan, and Qatar acquired 3, 3, 2, 1, and 1 ton, respectively.

    Contrastingly, Uzbekistan stood out by selling 11 tons of gold in October, a figure five times greater than that of Kazakhstan, the next leading seller. This sales volume of the precious metal marked a significant shift, as both Uzbekistan and Kazakhstan are typically known for purchasing gold domestically, as per the World Gold Council.

    The State Statistics Committee reported that Uzbekistan exported gold worth $1.24bn in October, contributing to a ten-month total of $6.87bn—a noteworthy 2.3-fold increase year-on-year.

    Earlier Daryo reported that the price of gold hit a record-breaking $2,100 per troy ounce during Monday's trading on December 4, surpassing the previous high set during the 2020 COVID-19 pandemic

     

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    06.12.2023, 00:24   Comments (0)   2830
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