Gold price per gram in Uzbekistan surpasses 1 million UZS mark

On Wednesday, April 17, the Central Bank set the prices for gold bullion and commemorative coins at a new record high.

One gram of gold is now valued at 1,002,460 UZS, increasing by 0.8% in one day. A five-gram bar is being sold for 5,012,000 UZS.

Last week, price tags updated their maximum twice. Since the beginning of the year, the precious metal has appreciated by 18.2%.

The Central Bank began selling gold coins to the population in 2018, and two years later, gold bullions were added. Individual purchasers were allowed to export them from Uzbekistan, with certain conditions.

These measures were explained as efforts to reduce the Uzbek economy's dependency on foreign currency. Furthermore, according to experts, access to gold will expand opportunities for investment and help safeguard savings.

Coins and bullions can be bought and sold through commercial banks — Spot has published relevant instructions. Their prices are updated daily and published on the Central Bank's website and Telegram bot.

According to the Central Bank, since 2020, people in Uzbekistan have purchased 255 kg of standard gold bars, with 10-gram bars proving to be the most popular.