Uzbekistan has held its position as the world’s top gold seller for three months running, according to the latest data from the World Gold Council (WGC).
In April, global central banks collectively increased their gold reserves by 12 tons. Poland led in gold purchases last month, adding 12 tons to its reserves, which have grown by 61 tons since the start of 2025.
Other notable buyers included the Czech Republic (3 tons), China, Turkey, and Kyrgyzstan (2 tons each), as well as Kazakhstan and Jordan (1 ton each).
Meanwhile, the Central Bank of Uzbekistan conducted a net sale of 11 tons of gold in April. Year to date, Uzbekistan’s net gold sales have reached 26 tons, making it the clear global leader.
This trend began in February when Uzbekistan sold 12 tons of gold, surpassing Kazakhstan’s 8 tons. In March, the country maintained its lead by selling 11 tons of gold.
In April alone, Uzbekistan exported gold worth $1.91bn. Since January 2025, gold exports have surged by 60% year-on-year, reaching a total value of $5.48bn.
At the same time, the Central Bank’s gold and foreign currency reserves have hit record highs for three consecutive months, now exceeding $49bn.
In April, international assets grew by $1.4bn, with foreign exchange reserves surpassing $11bn. However, gold reserves decreased slightly from 11.8mn to 11.5mn troy ounces.
Uzbekistan’s gold and foreign exchange reserves remained steady at about $35bn from 2022 until mid-2023, after which they saw a significant increase.
