Gold Prices In Uzbekistan Break Records For Second Consecutive Day
On January 24, the price of a five-gram gold bar set a new record, rising to UZS 5.96 mn, the Central Bank of Uzbekistan reports.
The price of a ten-gram gold bar increased to UZS 11.93 mn, a twenty-gram bar to nearly UZS 23.87 mn, a fifty-gram bar to UZS 59.66 mn, and a 100-gram bar to UZS 119.32 mn.
The rise in the Central Bank’s gold prices aligns with a global surge in the value of the precious metal. Gold is currently trading near its all-time high, with a troy ounce priced at approximately $2,780.
The strong demand for gold is driven by investor concerns over the policies of the new US President, Donald Trump, and his administration. Fears of high import tariffs and accelerated inflation in the US are contributing to the rise. Additionally, geopolitical tensions in the Middle East and the slowing Chinese economy are providing further support for gold prices.
According to StoneX Financial, gold prices are expected to reach $3,000 per troy ounce in 2025 before entering a correction phase. Analysts suggest that higher returns this year might come from investments in silver, tin, and copper.
