Uzbekistan has suspended gold exports, with no date set for resumption.

PANews reported on March 2nd that Uzbekistan, one of the world's largest gold producers, has begun stockpiling its gold production amid record-breaking gold prices caused by global geopolitical turmoil. According to data released Monday by the National Statistics Committee, the country mines approximately 130 tons of gold annually, but did not export any non-monetary gold in January, continuing the sales halt that began at the end of last year. Uzbekistan has effectively stopped gold exports since September. There were no export records between November and January, and shipments in October were minimal. When asked about a possible resumption of exports, a representative of the Central Bank of Uzbekistan stated in an email that decisions regarding the gold business are based on "a comprehensive assessment of global market conditions, precious metal price trends, and the current macroeconomic situation." He indicated that it is impossible to predict in advance when gold exports might resume. Uzbekistan's policy may indicate that authorities believe prices could rise further.