Tashkent, Uzbekistan (UzDaily.com) -- Uzbekistan became one of the largest sellers of gold in the world in November 2022. It was reported by the World Gold Council (World Gold Council).

According to the Council, in November last year, the Central Bank of Uzbekistan sold 2 tons of gold. Uzbekistan’s gold reserves fell by almost 2 tons to 397 tons, up 10% from early 2022, the Council said.

Kazakhstan became the largest seller of gold in November. Kazakhstan’s gold reserves fell by 4 tons to 380 tons (-5% YtD).

The World Gold Council notes that often central banks that buy gold from local producers - as they do in Kazakhstan and Uzbekistan - often sell gold.