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Uzbekistan’s gold exports are back on the move—April alone saw a crazy surge of $1.5 billion. The central bank that was previously going all-in and hoarding like mad is now back to selling again. This whole move is even more “wild” than DeFi mining.
Gold exports excluding monetary gold in the first four months totaled about $1.5 billion, mainly concentrated in April, with an annual production of approximately 130 tons.
Since the export suspension in September last year, the central bank has become one of the world's largest buyers.
As another major producer, Russia is also accelerating its gold sales.