In March, Uzbekistan retained its world leadership in gold sales

In March, Uzbekistan retained its status as the world’s largest gold seller, Spot reports, citing data from the World Gold Council.

The net volume of precious metal purchases by central banks in March amounted to 16 tons. Last month, purchases exceeded 40 tons and sales exceeded 25 tons. The WGC believes that “healthy” demand remains in the gold market.

The main buyer of the precious metal in March was Türkiye, which bought 14 tons. India and China are in second and third place with 5 tons each. Kazakhstan and Singapore also made it into the top five (4 tons each).

Uzbekistan sold 11 tons of gold in March, leaving behind Thailand (10 tons) and Jordan (4 tons).

At the end of 2023, the republic took second place in terms of net sales of the precious metal, slightly behind Kazakhstan. The leader in net purchases was China, followed by Poland and Singapore.

According to the Statistics Agency, in March Uzbekistan sold $1.34 billion worth of gold abroad, which provided almost half of all exports. In total, since the beginning of the year, the republic has sold $2.66 billion worth of precious metals abroad (+10.5%).