People were lining up in advance, with some coming in groups, eager to sell their gold bars and minimize potential losses. The cause of the panic was the sharp decline in gold and silver prices, which analysts characterized as the largest crash in a decade.
According to international financial platforms, the capitalization of the global precious metals market has shrunk by more than $7 trillion over several trading sessions. This was driven by a wave of futures sell-offs, actions by large investment funds, and the strengthening of the dollar amid tough statements from financial regulators.
The drop in prices immediately affected the situation in Kyrgyzstan.
As of February 2, 2026, the official prices for gold bars were as follows: 1 gram was bought for 15,216 som and sold for 15,429 som; a two-gram bar cost 29,197 som for purchase and 29,577 som for sale.
In light of such prices, many gold owners decided to "exit gold" in advance, fearing further declines. Store employees report that the influx of customers increased several times in just one day. Some buyers openly state that they prefer to sell their bars now to avoid larger losses in the future.
Financial experts link the current events to a number of global factors: a correction after record price increases, market reactions to statements from the U.S. Federal Reserve, and active speculative trading, which created a domino effect.
At this point, specialists agree on one thing: volatility in the market will remain for at least several more weeks, and Kyrgyz citizens should closely monitor the changes.
