The buy-back price of a standard gold ingot weighing 31.1035 grams rose by 6,143.5 KGS over the weekend. This is according to data from the National Bank of Kyrgyzstan.
Whilst on 26 June the regulator was buying back a troy ounce of gold at 352,095.5 KGS, by 29 June the price had risen to 358,239 KGS. Thus, over three days, the price rose by approximately 1.7 per cent.
Price increases were also recorded for other types of standardised gold bars. However, the selling price of a troy ounce of gold remained unchanged at 383,013 KGS. The selling prices of most other standard gold bars offered by the National Bank also remained unchanged over the weekend.
The rise in the price of gold on the domestic market reflects changes in global prices for the precious metal.