Gold Market Leaders: Uzbekistan Tops Purchases, Kazakhstan Leads Sales
Uzbekistan Ranks Among Top Gold Buyers, Kazakhstan Leads in Sales
According to the latest report from the World Gold Council, Uzbekistan has emerged as one of the leaders in gold purchases, while Kazakhstan leads in sales.
The Central Bank of Uzbekistan has consistently been among the largest gold buyers in the world, with the latest data showing that the country purchased 9.6 tons of gold in July. This marks the second consecutive month where Uzbekistan has ranked highly in gold purchases.
The World Gold Council monitoring also revealed that the top three gold buyers included the National Bank of Poland with 14.3 tons, followed by the Central Bank of Uzbekistan with 9.6 tons, and the Reserve Bank of India with 5.4 tons.
Overall, the reserves of the world’s central banks saw an increase of 37 tons of gold in just one month. Kazakhstan emerged as the largest seller of gold during this period, with 3.9 tons sold, followed by Mongolia with 0.7 tons.
These developments highlight the ongoing importance of gold as a valuable asset for central banks around the world, with countries like Uzbekistan and Kazakhstan playing significant roles in the global gold market.
