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Uzbekistan Marks First-ever Gold Deal on Local Commodity Exchange

Wednesday 10 April 2019

TASHKENT (Xinhua) — For the first time, a gold transaction was concluded on the Uzbekistan Commodity Exchange (UZEX) at a price of $41.2/g following the government’s decision to allow precious metals trades earlier this year, UZEX said Tuesday.

Following last week’s auction, 600&nbsp g of Au-1 gold worth 209.06 mln soums (approximately $24,736) was sold, according to a press release from UZEX. The market quotation was set almost at the starting price level and was 348,400 soums/g ($41.2/g) of gold.

Almalyk Mining and Metallurgical Plant acted as a seller, according to the press release.

The regulations on the sale of precious metals to UZEX were approved by the Cabinet of Ministers in early March, but precious metals purchased on the market cannot be exported.

UZEX also started its first money exchanges last month.

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