Gold has reached a record price again in Uzbekistan

On April 16, the price of gold bullion in Uzbekistan reached a historical maximum, according to nova24.uz.

According to the Central Bank, the price of 1 gram of gold amounted to 1.413 million soums. The price of a 5-gram bullion exceeded 7 million soums. In just one day, gold increased by 2.06%, and in one month, it rose by 9.9%. Since the beginning of the year, prices have increased by 24.8%.

This situation is related to the record level of gold futures prices worldwide. As of April 16, 1 troy ounce of gold was equivalent to 3300 dollars.

However, economist Timurmalik Elmuradov emphasizes that it is not easy to make a profit from buying and selling gold in the short term. This is because banks set low prices for buying and high prices for selling.

Therefore, it is advisable to hold gold as a long-term investment, says the expert.