The Central Bank sold one ton of gold in July

**The Central Bank sold one ton of gold in July**

The Central Bank of Uzbekistan sold 1 ton of gold in July 2026. At the same time, the gold purchases made by the Central Bank since the beginning of the year amounted to 40 tons. This was reported by the World Gold Council in its report on central banks' gold reserves.

According to the Council, the share of gold in Uzbekistan's total reserves currently stands at 87 percent. This is equivalent to approximately 431 tons of gold.

The report notes that the country's Central Bank has recently been in the spotlight after Chairman Timur Ishmetov held meetings with representatives of asset management companies in the US. According to him, gold remains the "best investment" for now. However, the Central Bank is also considering the possibility of selling part of the reserves at "favorable prices" as part of its overall reserve management strategy.

In general, world central banks increased their gold reserves by a net 23 tons in July. Among emerging economies, China led in terms of purchase volume with 20 tons, followed by Poland with 8 tons. The People's Bank of China has been purchasing gold in double-digit volumes every month since May 2026. Since the beginning of the year, it has increased its reserves by 60 tons. This figure is the second highest result after Poland.

In July, the largest net seller of gold was Russia. The country sold 6 tons of gold. It is followed by Turkey, Jordan, and Uzbekistan — each country sold 1 ton of gold.

Since the beginning of the year, the total volume of central bank gold purchases has amounted to nearly 130 tons. During the same period last year, this figure was approximately 160 tons.