Uzbekistan exported approximately $1.5 billion worth of non-monetary gold in the first four months of 2026, with most sales in April, according to the National Statistics Committee.
The country had effectively halted exports after September 2025. During the pause, its central bank became one of the world's largest gold buyers.
Exports stood at zero in January and February, with only $30 million in March. Central bank reserves fell by roughly 100,000 troy ounces in April, indicating sales.
The resumption comes as gold prices hit record levels, averaging about $4,800 per ounce. Gold is a critical buffer for Uzbekistan's economy.
Russia has also increased gold sales. The resumption occurs amid the US-Israel conflict with Iran, though Central Asian economies have shown resilience.
