Gold prices rise, Uzbekistan's reserves reach record high

Uzbekistan’s official gold and foreign currency reserves have risen to a level not seen in recent years. According to data from the Central Bank, as of November 1, 2025, the country’s international reserves reached 59.3 billion dollars, Spot.uz reported. This figure is recorded as the highest result in the nation’s history.

The Central Bank’s report notes that the reserves increased by 4.3 billion dollars in just one month. This growth is mainly attributed to the fact that gold prices in the global market have risen by nearly 50 percent since the beginning of the year.

In October, foreign currency assets rose by 731 million dollars, while the value of gold reserves increased by 3.6 billion dollars to reach 47.8 billion dollars. Moreover, the physical volume of gold also grew — from 11.6 million troy ounces to 11.9 million troy ounces.

It was also noted that the value of the Central Bank’s securities portfolio slightly increased during the past month, reaching 1 billion 23 million dollars.

Experts explain the sharp rise in gold prices by the instability in global financial markets, geopolitical tensions, and changes in the policy of the U.S. Federal Reserve System.

Economists emphasize that this situation may strengthen Uzbekistan’s financial stability and enhance its ability to withstand external shocks.