Uzbekistan’s Gold Boom Lifts Reserves to New Records

Uzbekistan’s foreign exchange and gold reserves have reached historic highs for the fifth consecutive month, according to figures released by the Central Bank.

As of January 1, 2026, the country’s international assets stood at $66.31 billion. Over the past month alone, reserves rose by $5.07 billion, an increase of 8.3 percent. Throughout 2025, total reserves expanded by 61 percent, The Caspian Post reports, citing Uzbek media.

The value of gold held in the Central Bank’s vaults has been setting records for the sixth consecutive month, reaching $55.09 billion - $4.2 billion (+8.32%) more than a month earlier. The physical volume of the precious metal rose to 12.6 million troy ounces (391.9 metric tons). In December, the regulator replenished its gold reserves by approximately 0.4 million ounces (12.4 metric tons).

By the end of 2025, the global price of gold exceeded $4,500 per ounce. Despite a recent correction, experts allow for the metal’s price to rise to $5,000 in 2026.

The foreign currency portion of the reserves increased by $829.1 million (+8.45%) to $10.64 billion. Of this amount, $1.48 billion is placed with foreign central banks and the International Monetary Fund, while $7.6 billion is held in accounts with other foreign credit institutions.

The value of foreign securities purchased by the Central Bank rose slightly to $1.53 billion; however, their share in the overall structure of reserves declined to 2.31%.