According to the World Gold Council report, the Central Bank of Uzbekistan sold one ton of gold in July 2026. In total, its gold purchases since the beginning of the current year amounted to 40 tons.
The council's data indicates that gold currently constitutes 87% of Uzbekistan's total reserves, equivalent to approximately 431 tons of the metal.
Recently, the Chairman of the Central Bank of Uzbekistan, Timur Ishmetov, attracted attention while meeting with US asset managers. He stated that gold remains the 'best investment,' but the central bank is considering selling part of its reserves at 'favorable prices' as part of its overall reserve management strategy.
Globally, central banks collectively increased their gold reserves by a net of 23 tons in July. Among emerging economies, China and Poland led in purchases, adding 20 and 8 tons, respectively.
The People's Bank of China has been acquiring gold in double-digit volumes monthly since May 2026. Since the start of the year, it has increased its reserves by 60 tons, making it the second-largest increase after Poland.
Russia became the largest net seller of gold in July, selling 6 tons of the metal. Turkey, Jordan, and Uzbekistan followed, each selling one ton.
Overall, central bank gold purchases reached about 130 tons since the beginning of the year, which is less than the approximately 160 tons recorded during the same period last year.