Uzbekistan became one of the countries that bought the most gold in February

Uzbekistan also took place among the main buyers who bought gold in February. The country bought 8.1 tons of gold during this month. 

The largest purchases were made by China and Turkey — 24.9 tons and 22.5 tons, respectively.

Singapore (6.8 tons) and India (2.8 tons) also improved their gold reserves. 

The country that sold the most gold in February was Kazakhstan. The Central Bank of Kazakhstan sold 13.1 tons of gold during the month. 

Gold reserves in the world central banks are growing for the eleventh month in a row. 

Why did Uzbekistan buy gold?
The sale or purchase of gold in Uzbekistan depends largely on prices. The central bank sells gold if the price increases, buying if the price decreases. 

Gold prices in February were lower than in January. For this reason, Uzbekistan bought it rather than sell gold. 

In March, prices began to rise again. In this situation, Uzbekistan may have sold gold again.

At the moment, gold prices have reached a one-year high, exceeding 2 thousand dollars per troy ounce.