No gold was sold in September either: Uzbekistan's reserves "grew" by 55 tons in nine months
So far this year, precious metals were exported only in April and July. Against the backdrop of declining sales, gold reserves have increased significantly.
Gold was not sold in September either: Uzbekistan's reserves "increased" by 55 tons in nine months
Uzbekistan did not export gold in September 2026 either. According to the Statistics Committee, since the beginning of the year, the Central Bank sold precious metals only in April worth $1.5 billion and in July worth $1.3 billion. In the remaining months, the gold purchased from plants was added to the reserves.
In previous years, precious metal trade accounted for at least a third of the country's total exports. For instance, in the nine months of 2025, $9.8 billion worth of gold was sold, which equaled 35.9 percent of total export revenue. In the same period of the current year, the share of gold in total exports stood at 10.8 percent.
Amid the country's recent reduction of gold exports, the volume of reserves is increasing significantly. As of October 1, 2026, the country's reserves contain 14.3 million ounces, or 446.9 tons of gold. At the beginning of January, this figure was 12.6 million ounces or 391.9 tons. In nine months, the volume of the precious metal in the reserves increased by nearly 55 tons.
Earlier, it was reported that global central banks had purchased around 130 tons of gold since the beginning of 2026. Of this, Uzbekistan's purchases accounted for 40 tons, ranking third in the world.
Two major gold mining enterprises operate in the country — Navoi and Almalyk Mining and Metallurgical Combines. The Central Bank is the sole buyer of precious metals from them and retains the right to sell the purchased gold when necessary. In the first half of 2026, the Navoi Mining and Metallurgical Combine reported a net profit of $2.38 billion from gold sales.