Uzbekistan Central Bank Sold One Ton of Gold in July

Tashkent, Uzbekistan (UzDaily.uz) — The Central Bank of Uzbekistan sold one ton of gold in July 2026, while its gold purchases reached 40 tons since the beginning of the year, according to the World Gold Council’s report on central bank gold reserves.

According to the council, gold currently accounts for 87% of Uzbekistan’s total reserves, representing around 431 tons of the metal.

The report noted that Uzbekistan’s central bank recently came under the spotlight after Chairman Timur Ishmetov held meetings with US asset managers. He said gold remains the “best investment” for now, but the central bank is considering selling part of its reserves at “favorable prices” as part of its overall reserve management strategy.

Central banks worldwide increased their gold reserves by a net 23 tons in July. Among emerging economies, China and Poland led purchases, adding 20 tons and 8 tons, respectively.

The People’s Bank of China has been purchasing gold in double-digit volumes every month since May 2026. Since the beginning of the year, it has increased its reserves by 60 tons, the second-largest increase after Poland.

Russia was the largest net seller of gold in July, selling 6 tons of the metal. It was followed by Türkiye, Jordan and Uzbekistan, with each country selling one ton.

Since the beginning of the year, total gold purchases by central banks have amounted to around 130 tons, compared with approximately 160 tons during the same period last year.