Gold price reaches record high

Today, January 12, the price of gold on the COMEX exchange exceeded $4,600 per troy ounce (approximately 31 grams) for the first time, reaching a record high of $4,612.

According to exchange data, gold rose by 1.5 percent, silver by 5.87 percent, platinum by 4.12 percent, UGLD by 2.81 percent, and Polyus shares by 1.13 percent. The price surge was driven by several factors, including the opening of a criminal case against US Federal Reserve Chair Jerome Powell, protests in Iran, growing geopolitical instability, and statements by US President Donald Trump regarding Iran and Greenland.

According to forecasts by Russia’s Ministry of Finance, although gold prices may remain volatile, they could reach new record levels of $5,000 or higher in the long term. In 2025, gold prices increased by 64.4 percent, while silver prices surged by 141.4 percent. This growth was influenced by declining interest rates, rising geopolitical tensions, and weakening confidence in the US dollar. A supply deficit in the silver market also contributed to the price increase.

For reference, the Central Bank of Uzbekistan also announced updated buying and selling prices for gold bullion today, January 12. According to the bank, the price of a 5-gram gold bar in Uzbekistan reached 9.01 million soums for the first time.

Earlier, it was reported that as of January 1, 2026, the total value of assets in the reserves of the Central Bank of Uzbekistan had reached $66.31 billion. The reserves increased by $5.08 billion, or 8.3 percent, compared to the previous month, and have grown by 61 percent since the beginning of 2025.