Uzbekistan Among Top Three Gold Buyers in Second Quarter

Tashkent, Uzbekistan (UzDaily.uz) — Uzbekistan ranked among the world's largest gold buyers in the second quarter of 2026, with the country's central bank increasing its gold reserves by 16 tonnes, according to the World Gold Council.

Only the central banks of Poland and China purchased more gold during the reporting period. Poland increased its reserves by 51 tonnes, while China added 33 tonnes. Kazakhstan ranked behind Uzbekistan with net purchases of 15 tonnes, while Jordan and the Czech Republic each increased their gold reserves by 6 tonnes.

The ranking reflects net purchases, measured as the difference between the amount of gold bought and sold during the reporting period.

According to the World Gold Council, central banks and other official institutions purchased a total of 289 tonnes of gold in the second quarter. This was a record for a second quarter and 62% higher than in the same period last year.

At the same time, net purchases for the first half of the year totalled 345 tonnes, the lowest level since 2022.

The result was affected by significant gold sales by several countries in the first quarter. In the second quarter, Russia remained the largest seller, reducing its gold reserves by 22 tonnes.

The World Gold Council said central banks continue to view gold as a strategic reserve asset that helps diversify international reserves and reduce risks amid economic and geopolitical uncertainty.

According to the organisation's survey, 89% of central banks expect global gold reserves to continue increasing over the next year, while 45% of respondents plan to expand their own holdings.