Uzbekistan's Central Bank ranks among top global gold buyers in July — WGC Report

Financial regulators around the world increased their gold reserves by 37 tons, which is three times more than in June. The total purchase volume amounted to 41 tons, which is one-third higher than the previous month.

The National Bank of Poland acquired the most gold — 14 tons, reaching a monthly maximum since November 2023. Its current reserves are estimated at 392 tons, with 33 tons acquired between April and July.

The Central Bank of Uzbekistan secured second place with 10 tons. The republic's total reserves reached 375 tons, showing an increase for the first time compared to the beginning of the year.

The Reserve Bank of India came in third, purchasing 5 tons of the precious metal in a month. Its total gold reserves now stand at 846 tons, with an increase of 43 tons since the beginning of the year.

Additionally, gold purchases were made by Jordan, Turkey (4 tons each), and Qatar and the Czech Republic (2 tons each). The only major seller was the National Bank of Kazakhstan, which sold 4 tons, leaving its gold reserves at 295 tons as of early August.

According to the Central Bank's data, Uzbekistan's gold reserves as of August 1 stood at 376.3 tons, an increase of 12.4 tons from July. The value of these reserves reached a new peak of $29.15 billion, accounting for nearly 78% of the republic's total international assets.