Uzbekistan Emerges as a Leading Gold Buyer in June
In June, Uzbekistan's Central Bank became one of the world's top two gold buyers, alongside India, according to the World Gold Council. The country's significant purchases highlight its strategic position in the global gold market.
During June, central banks worldwide increased their reserves by 12 tons, with total gold purchases reaching 31 tons and sales amounting to 18 tons. The Central Bank of Uzbekistan and the Reserve Bank of India each acquired 9 tons of gold, making them the leading buyers of the precious metal for the month.
Other notable buyers included Poland, which purchased 4 tons; Qatar, with 3 tons; and Jordan and the Czech Republic, each acquiring 2 tons. Türkiye also added 1 ton to its reserves.
On the sales side, the Central Bank of Singapore led with 12 tons sold, followed by the National Bank of Kazakhstan, which sold 6 tons.
Since the beginning of the year, Uzbekistan’s net gold sales have totaled approximately 7 tons, placing the country third in gold sales behind Thailand (10 tons) and the Philippines (25 tons). Despite this, the main global buyers of gold remain Türkiye, India, and China.
