Gold price hits record high

On September 5, gold futures on the Chicago Mercantile Exchange (CME) rose by 1.27 percent to $3,652.6 per ounce, setting a new record, according to CME data.

Over the past week, the price of a 5-gram gold bar increased by 5 percent. Since the beginning of the year, gold prices have surged by 29 percent.

According to the Central Bank’s rates for September 5, gold prices in Uzbekistan stood at the following levels:

• 5 grams – 7 million 266 thousand soums
• 10 grams – 14 million 532 thousand soums
• 20 grams – 29 million 064 thousand soums
• 50 grams – 72 million 661 thousand soums
• 100 grams – 145 million 322 thousand soums

For comparison, in August the price of a 5-gram gold bar was 7 million 030 thousand soums, while in September it rose to 7 million 270 thousand soums, marking a 3.4 percent increase.

It is also noteworthy that in June this year, the Central Bank of Uzbekistan purchased 9 tons of gold, becoming the world’s largest buyer for that month. Since the start of the year, Poland has been the top buyer, acquiring 67 tons of gold in six months. The State Oil Fund of Azerbaijan ranked second with 35 tons, followed by Kazakhstan with 22 tons.