Uzbekistan remains top gold seller for second consecutive month

For the second month in a row, Uzbekistan has claimed the top spot globally in gold sales, according to the monthly data of the World Gold Council (WGC). 

During the reported period, the total gold reserves of central banks worldwide increased by 16 tons, with purchases amounting to 40 tons and sales totaling 25 tons.

The most active buyers of the precious metal in March were the central banks of Türkiye (14 tons), China (5 tons), and India (5 tons).

Uzbekistan's Central Bank emerged as the top seller, reducing its reserves by 11 tons. Additionally, significant amounts of gold were sold by the central banks of Thailand (10 tons) and Jordan (4 tons).

Previously, Uzbekistan was reported to have been the largest seller of gold in February. At the end of 2023, it was the world’s second-largest gold-selling country, having exported gold worth $8.2 billion last year.

According to the State Statistics Agency, in March, Uzbekistan exported $1.35 billion worth of gold and $2.66 billion since the beginning of the year, accounting for 41.7% of the country's total exports.