Our country has shown high level of gold purchases for the fifth month in a row

It is reported that central banks of Uzbekistan and Turkey were leading in gold purchases in October this year. It is noted that Uzbekistan, having bought 8.7 tons of gold in October, recorded a high rate for the fifth consecutive month.

Turkey's central bank, on the other hand, bought 9 tons of gold last month, increasing its net gold purchases by 103 tons since the beginning of the year. The country's total official gold reserve now stands at 498 tons.

Central banks of the World Gold Council bought 399.3 tons of gold for their foreign exchange reserves between July and September. Uzbekistan ranked second after Turkey in purchases of 26 tons during that period. Demand from central banks rose 300 percent in the third quarter compared with the previous year.

Along with reported purchases, there are also estimates of hidden purchases, according to the World Gold Council. Market analysts point to China as a major anonymous player.

Uzbekistan became the world's second-largest gold buyer among central banks, behind only Venezuela with 65% of reserves.