Uzbekistan’s Central Bank Acquires Nine Tonnes of Gold in November

The Central Bank of Uzbekistan purchased nine tonnes of gold by the end of November 2024, according to statistics from the World Gold Council (WGC).

Over the first 11 months of the year, the Central Bank bought a total of 11 tonnes of gold, increasing the nation’s gold reserves to 382 tonnes.

Based on WGC’s November data, the largest gold buyer globally was the Polish Central Bank, which acquired 21 tonnes. Uzbekistan ranked second, followed by the Reserve Bank of India, which purchased eight tonnes.

In total, global central banks bought 53 tonnes of gold in November, as reported by the WGC.

Kursiv Uzbekistan suggests that the price of gold may rise to $2,900 per ounce by the end of 2025.