Central Bank of Uzbekistan became the largest seller of gold

In April 2025, Uzbekistan’s Central Bank sold 11 tons of gold. For the third consecutive month, the country has maintained its position as the world’s largest seller of precious metals, according to the World Gold Council (WGC).

In total, the regulator has sold 26 tons of gold in the first four months of this year.

Regarding gold exports, Uzbekistan shipped out more than $5.4 bn worth of gold during the same period.

Goldman Sachs analysts stated this spring that gold prices could rise to $3,700 per ounce in 2025. The previous forecast had projected prices at $3,300 per ounce.

Analysts believe that due to recession risks, central banks and gold-backed exchange-traded funds (ETFs) will increase their demand for the precious metal beyond expectations.

Kursiv Uzbekistan reports that Uzbekistan plans to increase the volume of gold traded on the exchange from 6 to 8 tons.