Uzbekistan’s central bank plans to hold a roundtable in mid-September with major international asset managers, including Goldman Sachs, BlackRock and JPMorgan, to discuss potential investment channels for the country’s foreign-exchange reserves. Official data showed reserves declining from $66.3 billion at the start of the year to $64.3 billion in July, with gold accounting for 87% of the total. The World Gold Council said Uzbekistan was the world’s second-largest net buyer of gold in the first half of the year, purchasing 41 tonnes. Central bank governor Timur Ishmetov said gold had so far been the best-performing investment but cautioned that prices would not rise indefinitely. He said the meeting would not necessarily lead to a change in the reserve structure, while the bank’s primary objective was not simply to sell gold for profit, although it would seek favorable prices if it sold. The central bank has previously developed broader reserve-management capabilities, including an Investment Committee, participation in the World Bank’s Reserve Advisory and Management Program and purchases of US Treasuries. Earlier figures in the existing record placed reserves at approximately $77.1 billion in March 2026, with gold accounting for about 83%; those figures differ from the newer official data cited for the start of the year and July.