Uzbekistan's gold and foreign exchange reserves reached record high of $59.3 billion as of November 1, the Central Bank said in a report. In October, reserves increased by $4.34 billion (+7.9%), with total increase topping $18.1 billion (+44%) year-to-date.
The main contribution to the growth was again made by gold, the price of which on the world market rose to $4400 per ounce in October.
Year-to-date, the gold has become one of the most profitable assets against the backdrop of US President Donald Trump's trade policies.
The physical volume of gold in the reserves increased by 300,000 troy ounces (9.33 tons) to 11.92 million ounces (370.7 tons). Year-to-date, its reserves have decreased by approximately 11.8 tons.
As a result, the value of the gold reserves increased by $3.6 billion, reaching $47.8 billion. This is the highest figure ever recorded. Gold accounts for 80.6% of all the country's reserves.
The foreign currency component of the reserves increased by $731.4 million to $10.18 billion.
While, the volume of securities virtually remained intact at $1.02 billion (+$3.6 million).
