Uzbekistan’s gold prices surpass UZS 6.1 mn
The price of a five-gram gold bar in Uzbekistan exceeded UZS 6.1 mn on February 5, setting a new record, according to data from the Central Bank of Uzbekistan.
The prices of other gold bars on the same date were as follows:
- 10 grams – UZS 12.23 mn
- 20 grams – UZS 24.46 mn
- 50 grams – UZS 61.14 mn
- 100 grams – UZS 122.27 mn
At the same time, global gold prices reached an all-time high of $2,880 per troy ounce, marking a 41.7% increase over the past year.
Analysts attribute the rise in gold prices to the unpredictable trade policy of U.S. authorities. Earlier this month, U.S. President Donald Trump imposed high tariffs on goods from Mexico, Canada, and China, though later postponed tariffs on Mexican and Canadian exports.
In response, China introduced tariffs on American liquefied natural gas (LNG), oil, coal, and automobiles and imposed export controls on tungsten-related products.
The ongoing trade disputes and global economic uncertainty have made gold an increasingly attractive safe-haven asset. Additionally, expectations surrounding the upcoming U.S. labour market report are further driving gold prices higher.
