TASHKENT, Uzbekistan, September 18. Gold prices in Uzbekistan rose by more than 1 percent and approached the record set earlier, Trend reports.
The price for one ingot of 5 grams amounts to 3.9 million Uzbek soums ($320) as of September 18, while the cost of one gram is fixed at 790,940 soums ($65), which is slightly less than the absolute maximum reached on May 5.
Since the beginning of the year, the prices for the precious metal have fluctuated and updated the quotation record several times: the price for the smallest ingot crossed the mark of 3.8 million soums ($312) for the first time in March and approached 3.9 million soums ($320) in early May.
The price for one ingot of five grams has decreased twice since May to 3.7 million soums ($304). However, since the beginning of September 2023, the prices have amounted to 780,000 soums ($64) per gram of gold.
Meanwhile, the value of Uzbekistan's gold reserve slightly increased by $400,000, amounting to $23.4 billion as of September 12, 2023.
Nevertheless, the physical volume of gold increased by 0.3 million troy ounces (9.3 tons) and amounted to 12.1 million troy ounces (approximately 378 tons). The increase was associated with a fall in prices on the world precious metal market, which lasted until August 21, when the price dropped to $1,910 per troy ounce.
