Uzbekistan becomes world’s largest gold seller in February — WGC

In February, Uzbekistan became the world’s largest gold seller, according to the World Gold Council (WGC).

In February, global central bank gold reserves increased by 24 tons. The leading buyer of the precious metal was Poland, which acquired 29 tons, marking its 11th consecutive month of net gold purchases. Following Poland were China (5 tons), Türkiye and Jordan (3 tons each), and Qatar and Czechia (2 tons each).

The Central Bank of Uzbekistan made a net sale of 12 tons of gold. Kazakhstan followed in second place, selling 8 tons of the precious metal.

In January, Uzbekistan had become the world’s largest gold buyer, acquiring 8 tons, surpassing China and Kazakhstan. At that time, the major gold sellers included the central banks of Russia, Jordan (3 tons each), and Kyrgyzstan (2 tons).

According to the National Statistics Committee, in February, following a pause in January, Uzbekistan sold gold worth $1.73 billion, a 31.3% increase compared to the same period in 2024.

Moreover, the Central Bank’s gold and foreign exchange reserves have been breaking records for two consecutive months, surpassing $47 billion. In March, international assets grew by $2.91 billion, and foreign currency reserves exceeded $10 billion. However, the volume and value of the gold reserves slightly decreased.