Uzbekistan becomes top gold seller in October

Tashkent, Uzbekistan (UzDaily.com) -- Uzbekistan became the world’s leader in gold sales in October 2023, according to the World Gold Council.

In October, the Central Bank of Uzbekistan sold 11 tons of precious metal. Kazakhstan secured the second position with the sale of two tons of gold.

The World Gold Council notes that the switch between net buying and selling of gold is a common practice for banks engaged in the trade of precious metals from domestic sources.

China emerged as the primary buyer of gold, acquiring 23 tons, followed by Turkey (19 tons), Poland (three tons), India (three tons), the Czech Republic (two tons), Kyrgyzstan (one ton), and Qatar (one ton).