Gold prices fall: Uzbekistan's reserves drop sharply

Uzbekistan's international gold and foreign exchange reserves saw a significant decline in June. According to Central Bank data, the value of the reserves fell by $6.8 billion in one month.

As of July 1, 2026, the total value of the republic's gold and foreign exchange reserves stood at $63.7 billion. This indicates a 9.6 percent decrease compared to the figures at the beginning of June.

It is reported that the value of gold assets, which make up the bulk of international reserves, has also declined. While this figure was $61.4 billion at the beginning of June, it dropped to $55.75 billion by the beginning of July. Experts attribute this situation to the decline in gold prices on the global market.

At the same time, the physical volume of gold in the reserves continued to grow. Specifically, the amount of gold in Central Bank vaults reached 13.9 million troy ounces, or approximately 432 tons. This is nearly 9 tons more than the figure from a month ago and over 68 tons more compared to the same period last year.

Foreign currency assets also recorded a decline. At the beginning of July, foreign currency funds in international reserves amounted to $7.44 billion, whereas at the beginning of June, this figure was $8.57 billion. The reduction over the month amounted to $1.1 billion.

Experts note that the decrease in the value of reserves was primarily influenced by changes in gold prices on the world market. Meanwhile, the fact that the country's gold reserve volume continues to grow is being evaluated as a positive factor in the composition of international reserves.