In June, Uzbekistan ranked first globally in the volume of gold purchases
Uzbekistan acquired 9 tons of gold in June, securing the top spot worldwide for purchases of the precious metal. The country ended a four-month period of sales and resumed the accumulation of its gold and foreign exchange reserves.
According to the World Gold Council, central banks worldwide collectively purchased 22 tons of gold in June. This marks the third consecutive month of increasing demand on a month-over-month basis.
Besides Uzbekistan, the National Bank of Kazakhstan made a significant purchase of 7 tons. More modest volumes were recorded for China, Turkey, and the Czech Republic, each buying 2 tons, while Ghana, Qatar, the Philippines, and Kyrgyzstan each acquired 1 ton.
Since the beginning of the year, the net volume of purchases by central banks has reached 123 tons. While this is slightly less than last year's figure for the same period (130 tons), it remains a significant number.
Among the leaders in purchase volume for the first half of the year are Poland (67 tons), Azerbaijan (35 tons), and Kazakhstan (22 tons). Uzbekistan, having acquired approximately 18 tons of gold in six months, ranks first in transaction volume since the start of the year. Singapore follows in second place with 16 tons purchased, with Russia and Germany trailing by a significant margin.
Since the start of 2025, Uzbekistan had sold 27 tons of gold and was the world's largest seller for many months.
ORIENT
