As of March 18, the price of a 5-gram gold bar in Uzbekistan has reached 6.427 mln soums, according to data from the Central Bank of Uzbekistan. The value of the precious metal in the country has been rising for the second consecutive day.
The price of a 10-gram gold bar has increased to 12.8 mln soums, while a 20-gram bar now costs 25.7 mln soums.
Bars weighing 50 and 100 grams have reached 64.2 mln soums and 128.5 mln soums, respectively.
Analysts at UBS investment bank forecast that the price of gold will rise to $3,200 per ounce by the end of this year. The upward trend in gold prices is being driven by factors such as the introduction of U.S. import tariffs and a potential slowdown in the American economy.
Kursiv Uzbekistan also reports that Australian bank Macquarie also predicts gold prices may reach $3,500 per ounce.
