UZ · Rank #15Uzbekistan gold reserves.
AsiaUpdated 2025-12-31
Gold reserves
Reserve value
% of reserves
YoY change
Est. purchase cost
Gold backing
History
Holdings, flows, and spot value over time
Gold Holdings (Tonnes)
Reserve Value (USD Billions)
Annual Net Purchases / Sales (Tonnes)
Gold as % of Foreign Reserves
Context
Geopolitical backdrop
Uzbekistan maintains gold as a key export and reserve asset to navigate Central Asian geopolitics and economic diversification.
Notable activity
No change year-over-year at 387 tonnes.[user data]
Key motivations
Reserve Diversification
Currency
Gold backing analysis
Gold / M1 money supply0.63%
What this means
A rough measure of how much of the country's M1 money supply the market value of its gold could cover. Higher ratio ⇒ stronger implicit gold backing. Ratio is low vs peers — room for additional gold accumulation.
M1 money supply: $5.60T · IMF / central bank / FRED
Peers
Compare with similar countries
Countries in the same region or a roughly comparable size of reserves.
Rank #21
Gold280 t
% Reserves69.7%
YoY0.0t
Rank #23
Gold227.4 t
% Reserves59.6%
YoY0.0t
Rank #7
Gold1,039.9 t
% Reserves15.2%
YoY0.0t
Rank #6
Gold2,306.3 t
% Reserves9.6%
YoY+57.3t
Rank #25
Gold173.6 t
% Reserves0.0%
YoY0.0t
Related
Indicators that pair with central bank flows
Bullion Fear & Greed
Was the market fearful or greedy while Uzbekistan was buying? Central banks accumulate in fear — the opposite of retail.
Gold / Silver ratio
Central banks buy gold, not silver. Track the ratio between the two and see when a swap is statistically favoured.
Macro Playbook
What gold, silver, and miners have historically done when macro rules (HY spreads, curves, housing) fire.