Uzbekistan becomes world’s top gold buyer in June

In June 2025, the Central Bank of Uzbekistan became the world's largest buyer of gold, according to a report by the World Gold Council.

Based on data from the International Monetary Fund and other open sources, central banks worldwide added a total of 22 tons of gold to their reserves during the first month of summer. Since the beginning of the year, global central banks have collectively increased their gold reserves by 123 tons.

Uzbekistan led the purchases in June, acquiring 9 tons of gold. Notably, the country had been selling gold for four consecutive months prior to this shift.

The second-largest buyer was the National Bank of Kazakhstan, which purchased 7 tons of gold. Meanwhile, the People’s Bank of China, the Central Bank of Turkey, and the Czech National Bank each added 2 tons to their reserves.

Additionally, the central banks of Ghana, Qatar, Kyrgyzstan, and the Philippines each bought 1 ton of gold. The only major seller in June was the Monetary Authority of Singapore, which sold 6 tons.

Despite June’s purchases, Uzbekistan remains the largest gold seller of the year so far, having sold a total of 18 tons during the first half of 2025. Singapore follows with 16 tons sold, while the Central Bank of Russia ranks third with significantly lower volumes.

Poland holds the lead in gold purchases for the year, acquiring 67 tons in the first six months. Azerbaijan’s State Oil Fund follows with 35 tons, and Kazakhstan ranks third with 22 tons.

As of June 1, Uzbekistan's gold and foreign exchange reserves stood at $49.665 billion.