For the first time since April 28, the National Bank has lowered the selling price of an ounce of gold

The National Bank of Kyrgyzstan has revised the selling price of standard gold bars for the first time in nearly a month. Prior to this, the selling price per ounce of gold had remained unchanged since April 28.

As of May 20, the selling price of an ounce (31.1035 grams) was reduced from 423,045 KGS to 412,709 KGS. Thus, in just one day, the selling price fell by more than 10,300 KGS.

The buyback price also decreased. While on May 19 the National Bank bought an ounce for 401,382.5 KGS, on May 20 it was already 395,374.5 KGS. The drop amounted to about 6,000 KGS.

The new rates for May 20 are as follows:

• 1 gram — selling price 14,558 KGS, buyback price 14,005 KGS;
• 5 grams — selling price 67,953 KGS, buyback price 65,097.5 KGS;
• 10 grams — selling price 133,791.5 KGS, buyback price 127,313 KGS;
• 31.1035 grams (one ounce) — selling price 412,709 KGS, buyback price 395,374.5 KGS;
• 100 grams — selling price 1.309 million KGS, buyback price 1.271 million KGS.

The day before, on May 19, “Akchabar” reported that the National Bank had effectively “frozen” the selling price of gold, despite daily changes in the buyback price.

At that time, the selling price per ounce had remained at 423,045 KGS since April 28, and the spread—the difference between the selling and buyback prices—reached 21,700 KGS.

After the price revision on May 20, the spread per ounce narrowed to approximately 17,300 KGS. However, this is still significantly higher than the levels seen at the end of April.