Gold prices in Uzbekistan reach new record as of February 19

On February 19, the price of gold bars in Uzbekistan set a new record, marking the 11th increase this year. The price of one gram of gold rose to UZS 1,258,290 (approximately $111), up by 0.8% from the previous day. A 5-gram gold bar is priced at UZS 6.291 mln (around $557). This announcement was made by the Central Bank of Uzbekistan.

Globally, the price of gold is also rising. The spot price for a troy ounce reached $2,928, or $94.16 per gram, with prices peaking at around $2,940. This increase follows a brief decline, driven by global market conditions and demand from central banks.

Since the start of 2025, gold has outperformed other assets, supported by U.S. trade policies and global economic uncertainties. Central banks worldwide continue to increase their gold reserves, further boosting demand.

In Uzbekistan, the Central Bank has been offering gold coins to the public since 2018 and began selling gold bars in 2020. These bars can now be exported by individuals under certain conditions. This initiative aims to reduce Uzbekistan’s reliance on foreign currency and provide more investment options for citizens.

(*The figures are based on the exchange rate from February 19, 2025.)