Uzbekistan Halts Gold Exports Amid Global Market Volatility

Uzbekistan, a significant global gold producer, has suspended its gold exports as the country accumulates its output during a period of record-high gold prices and geopolitical instability. Data released by the State Statistics Committee on Monday revealed that the Central Asian nation, which mines approximately 130 tons of gold annually, exported no non-monetary gold in January. This marks a continuation of the export halt that began in late last year, with actual cessation of sales observed since September.

In response to inquiries about the potential resumption of exports, a representative from the Central Bank of Uzbekistan stated via email that decisions regarding gold operations are based on a comprehensive assessment of global market conditions, precious metal price trends, and the current macroeconomic situation. The bank could not provide a predetermined timeline for when gold exports might resume.

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