The price of an ounce of gold at the National Bank rose by more than 21,000 KGS in one day

The National Bank has updated its quotations for measured gold bars. According to the new prices, on January 29, the regulator is ready to buy back a bar weighing one troy ounce (31.1035 grams) at a price of 466,231 KGS.

For comparison, the buyback price the day before was 445,002 KGS. Thus, over the course of a day, the price of an ounce of gold rose by 21,229 KGS, or 4.8%.

The National Bank's selling price also rose significantly, reaching 473,224.5 KGS. This is 21,500 KGS more than the day before. The difference between the purchase and sale prices is about 7,000 KGS — the regulator's spread.

At the same time, transactions with gold bars are possible not only through the National Bank. Standard bars are also traded on the Kyrgyz Stock Exchange, where investors can offer them on the secondary market. In particular, a bar can be offered at a price lower than the National Bank's selling price but higher than its repurchase price, which allows investors to increase the potential return on their investments in gold.

However, bullion owners are not rushing to take advantage of this option. Although there is demand for the National Bank of the Kyrgyz Republic's gold bullion bars.

The increase in the price per ounce also affected the prices of other denominations of bullion. Thus, over the course of a day, the price of the entire range of standard gold bullion changed as follows (selling price of the NBKR):

• 1 gram by 682.5 — up to 16,353.5 KGS;
• 2 grams by 1,360 — up to 31,392.5 KGS;
• 5 grams by 3,430 — up to 76,735 KGS;
• 10 grams at 6,850 — up to 150,429 KGS;
• 100 grams at 70,300 — 1,543,780 KGS.