Uzbekistan ranks 16th globally in gold reserves as of January 2025, holding a total of 390.7 tons, Trend.az reports via the World Gold Council.

This signifies a surge of 8.1 tons relative to the preceding month. Gold constitutes a substantial 81.8 percent of Uzbekistan’s aggregate foreign reserves portfolio.

Among other Central Asian countries, Kazakhstan holds the 20th position, with 287.9 tons, having added 3.8 tons to its reserves in January. Gold makes up 55 percent of Kazakhstan’s total reserves.

Kyrgyzstan ranks 59th, with 36.2 tons, showing a decline of 1.9 tons. Gold comprises 63.6 percent of Kyrgyzstan’s foreign reserves. Tajikistan is in 78th place with 7.4 tons, although this data has not been updated since February 2023. Gold held 17.6 percent share of Tajikistan’s foreign reserves. The World Gold Council has not provided data for Turkmenistan.

At a press briefing on January 17, 2025, NBK Chairman Timur Suleimenov stated that the central bank is considering shifting to a policy of “monetary neutrality” in its gold purchases. This move aims to increase international reserves and safeguard the economy from external shocks. The NBK also began selling US dollars in a process described as “mirroring operations” related to its gold purchases.

In terms of sales, the National Bank of Kyrgyzstan executed a significant divestiture in January, liquidating 2 tons of gold from its reserves.

As reported previously, gold smuggling cases are surging in Japan on the back of the rising price of the precious metal and the recovery of overseas tourists following the COVID-19 pandemic.