Drop in Uzbekistan’s Gold Sales

In April, Uzbekistan’s sales of gold dropped significantly, according to data published by the World Gold Council (WGC).
In the same month,  the total gold reserves held by the world’s central banks increased by 33 tons and volumes of purchases and sales amounted 36 tons and 3 tons respectively. The most active buyers of precious metals during the reporting period were the Central Banks of Turkey (8 tons), Kazakhstan (6 tons), and India (6 tons). Meanwhile,  the Central Bank of China greatly reduced its gold purchases , while increasing its reserves by 2 tons to 2,264 tons; the lowest figure since November 2022.
A significant decrease in precious metal sales occurred at the expense of Uzbekistan and Jordan, whose reserves decreased by only 1 ton.

In May, the world central banks’ reserves  increased by 10 tons, the volume of purchases was 23 tons, and that of sales, totalled 12 tons. During that month, Kazakhstan took the lead in sales of 10 tons of gold.
A previous report, posted by the TCA, provided data for Uzbekistan’s gold exports in February and March.

• central banks
• Turkey
• Uzbekistan
• World Gold Council
• gold sales