Tashkent, Uzbekistan (UzDaily.com) — In January 2025, Uzbekistan emerged as the largest gold buyer among the world’s central banks, according to the World Gold Council (WGC).

At the beginning of the year, global financial regulators maintained a strong interest in the precious metal, with net gold purchases totaling 18 tons. According to WGC data, demand for gold remains strategically important amid rising geopolitical risks.

Uzbekistan’s Central Bank acquired 8 tons of gold, increasing its share in the country’s international reserves to 82%, or 391 tons. The People’s Bank of China ranked second with a purchase of 5 tons, raising its gold reserves to 2,285 tons, which accounts for 6% of its total assets. Kazakhstan secured third place with 4 tons, followed by Poland and India with 3 tons each, the Czech Republic with 2 tons, and Qatar with 1 ton.

Among the largest gold sellers were the central banks of Russia and Jordan, each offloading 3 tons, while Kyrgyzstan reduced its holdings by 2 tons.

Uzbekistan’s total international reserves increased by US$1.72 billion in January, approaching a record high of US$43 billion. The value of the country’s gold reserves also reached an all-time high, surpassing US$35 billion, while foreign currency reserves saw a significant decline.