By takumihamano 
The gold trade in Russia has been a topic of significant interest and concern, especially given the recent economic and geopolitical developments. Here, we provide an overview of the latest news and insights related to Russia’s gold trade.
- Uzbekistan’s Gold Exports: In the first two months of 2025, Uzbekistan exported gold worth USD 1.73 billion. This highlights the region’s active participation in the global gold market and its economic reliance on gold exports.
- Record Gold Prices in Uzbekistan: On April 1, 2025, the price of gold in Uzbekistan reached a record high. A five-gram gold bar was priced at 6.67 million UZS, with larger bars also seeing significant price increases. This surge in gold prices reflects broader trends in the global market, potentially influenced by geopolitical tensions and economic policies.
- Impact of US Tariffs: US President Trump imposed new tariffs on imports from various countries, including Uzbekistan. Analysts have linked these tariffs to increased global gold prices, as countries seek to hedge against economic uncertainties by investing in gold.
- Global Gold Prices: As of April 14, 2025, global gold prices exceeded $3230 per troy ounce. This significant rise in gold prices underscores the metal’s role as a safe-haven asset amid global economic instability.
Summary
The gold trade in Russia and its neighboring regions is experiencing notable fluctuations, driven by a combination of local economic activities and global geopolitical developments. Uzbekistan’s substantial gold exports and record-high gold prices reflect the broader market trends. Additionally, the imposition of US tariffs has further influenced global gold prices, highlighting the interconnected nature of international trade and economic policies. As gold continues to be a critical asset for economic stability, monitoring these developments remains essential for stakeholders and policymakers.