Gold prices in Uzbekistan hit record highs for fifth consecutive day 

Prices of gold bars and commemorative coins in banks of Uzbekistan have once again updated the record, the Central Bank reported.

One gram is sold for 889,520 soums, which is about 1.2% more than last Thursday. The cost of an ingot weighing 5 grams amounted to 4.498 million soums.

Quotes on world exchanges are also setting new highs in recent decades. A troy ounce of gold is currently offered at $2,180, which equates to $70 per gram.

Gold sets record quotations in Uzbekistan for the fifth working day in a row. Last week, a 5-gram bar rose in price by 200 thousand soums.

The Central Bank began selling gold coins to the public in 2018, and two years later gold bars joined them. Individual buyers were allowed to export them from Uzbekistan, subject to conditions.

These steps were explained by the desire to reduce the dependence of the Uzbek economy on foreign currency. In addition, according to experts, access to gold will expand investment opportunities and help secure savings.

Coins and bars can be bought and sold through commercial banks. Their prices are updated daily and published on the Central Bank website and in the Telegram bot.

According to the Central Bank, since 2020, Uzbeks have purchased 255 kg of measured ingots. The most popular were 10-gram bars.