Uzbekistan Ranks Among Top Three Gold Buyers in the World in November

Tashkent, Uzbekistan (UzDaily.com) — In November 2025, Uzbekistan entered the top three gold buyers in the world, with the country’s central bank purchasing 10 tons of the precious metal over the month, according to the latest report from the World Gold Council.

The organization’s data show that total net purchases of gold by central banks in November amounted to 45 tons. The growth in demand was largely driven by regulators from developing countries, who continue to actively expand their gold reserves amid global economic uncertainty.

For the second consecutive month, Poland was the largest buyer, increasing its reserves by 12 tons. Brazil followed with purchases of 11 tons. Uzbekistan took third place with 10 tons, reaffirming its status as one of the most active market participants among emerging economies.

Notable buyers also included Kazakhstan, which increased its reserves by 8 tons. More moderate acquisitions were recorded in the Czech Republic, China, and Indonesia.

Gold sales by central banks in November were limited, with only Jordan reducing its reserves by 2 tons and Qatar selling 1 ton.

The report also notes that for the full year, Uzbekistan remains among the top three gold sellers globally, behind only Singapore and Russia, highlighting the country’s flexible strategy in managing its foreign exchange and gold reserves.