Gold hits new record price in Uzbekistan

On April 16, the price of measured gold bars in Uzbekistan reached a new historic high, nova24.uz reported.

According to the Central Bank, the price of 1 gram of gold hit 1.413 million UZS. A 5-gram bar surpassed 7 million UZS. In just one day, gold rose by 2.06%, 9.9% in a month, and 24.8% since the beginning of the year.

This surge follows the global rise in gold futures, which reached $3,300 per troy ounce on April 16.

However, economist Timurmalik Elmuradov advised that gold should be seen as a long-term investment rather than a quick profit tool. Banks usually sell gold at a higher price than they buy it.

In short, buying gold makes more sense for long-term financial goals, the expert noted. Read 'Zamin' on Telegram!