Uzbekistan temporarily halted gold exports: Reasons are being investigated

Gold exports play an important role in Uzbekistan's foreign trade balance. This was reported by Zamin.uz.

The fact that the country has not sold gold in the last four months raises many questions. According to the Uz24.uz website, since 2016 Uzbekistan has been conducting gold exports closely linked to global market prices.

Analyses show that temporarily halting exports during periods of price decline is economically justified. Nearly half of the months since 2016 when gold was not sold correspond to such periods.

The last gold export worth 1.5 billion dollars was made in September 2025, but no new transactions have been recorded since then. During this period, the average monthly price of gold rose from 3,700 dollars to 4,700 dollars.

Experts explain this situation with two factors. First, the annual plan for 2025 may have been fulfilled ahead of schedule in the last quarter.

Second, amid uncertainties in the global economy, further price increases are expected. Not selling gold in January has become a historical tradition.

Uzbekistan is currently applying a strategy of waiting for the most favorable price point. The record price of 4,700 dollars and the halt in exports indicate the possibility of conducting more profitable trade operations in the near future.