Uzbekistan’s gold reserves reach 366 tons after latest purchase
Overall, central banks added a net 15 tons of gold to global reserves in August, the WGC reported.
This figure is consistent with the average monthly net purchases recorded from March to June and signals a return to buying activity after the pause observed in July.
According to the WGC, this year’s record-high gold prices may limit the volume of purchases by central banks. Some banks are also pursuing short-term selling strategies in this environment. However, the recent slowdown in purchases does not indicate a retreat from gold. On the contrary, central banks remain interested in increasing their share of gold holdings.
Seven central banks raised their gold reserves by at least 1 ton in August, while only two banks reported a decline.
· The National Bank of Kazakhstan purchased 8 tons of gold – its sixth consecutive monthly purchase. Its reserves now stand at 316 tons, up 32 tons compared to the end of 2024.
· The National Bank of Bulgaria increased its reserves by 2 tons – the largest monthly increase since June 1997, when the country bought 8 tons. Bulgaria’s total gold reserves now amount to 43 tons.
· The Central Bank of Turkey added 2 tons of gold to its international reserves. Since the beginning of the year, its official reserves have risen by 21 tons to reach 639 tons.
· The People’s Bank of China bought 2 tons of gold – its tenth consecutive monthly purchase. China’s total reserves now exceed 2,300 tons, though this represents only 7 percent of the country’s overall international reserves.
· The Central Bank of Uzbekistan also purchased 2 tons of gold in August. Its total reserves currently stand at 366 tons – 17 tons less than at the end of 2024.
· The Czech National Bank acquired 2 tons, continuing its 30-month streak of uninterrupted purchases. Its reserves now stand at 65 tons. The bank aims to hold 100 tons of gold in its international reserves by the end of 2028.
· The Bank of Ghana added 2 tons, bringing its total purchases for the year to 5 tons. Ghana’s reserves now stand at 36 tons.
Meanwhile, the Central Bank of Russia (3 tons) and Bank Indonesia (2 tons) were the only central banks to reduce their reserves in August. Russia’s decline is likely connected to its coin-minting program.
The WGC is expected to release a full report on central banks’ gold demand in the third quarter of 2025 on October 30.
Earlier, it was reported that as of September 1, 2025, Uzbekistan’s official reserve assets exceeded $50.08 billion for the first time – a historic record. The sharp increase came amid rising global gold prices. The physical volume of gold within the reserves also grew from 11.7 million to 11.8 million troy ounces.
Source: https://kun.uz/en/