Gold access widens as Tajikistan plans Dushanbe ATMs

Key Takeaways:

• Tajikistan launching gold ATMs dispensing investment-grade bars to widen retail access.
• Recent demand strong: 200 kilograms sold in 2025 to everyday residents.
• Reliance on gold monetization risks downside if global bullion prices fall.

As reported by Times of Central Asia, Tajikistan plans to launch a gold ATM service that dispenses investment-grade bars. The initiative aims to expand retail access via automated gold bar vending machines.

According to Trend.az, since June 2017 gold bars weighing 5 to 100 grams have been in free circulation, sold through the central bank and some commercial banks. The bars are produced in Switzerland and carry LBMA Good Delivery-style certifications.

As reported by Caspian Post, about 200 kilograms of gold bars were sold in 2025, with everyday residents cited as the main buyers. That recent uptake provides context for expanding point-of-sale channels.

According to S&P Global Ratings, Tajikistan’s reliance on gold monetization exposes the economy to downside risks if global bullion prices fall. Any sustained decline could weigh on reserves and fiscal planning.

Operationally, the planned kiosks are described as ATM-like terminals enabling card-based purchases of physical bars. Public disclosures to date have focused on accessibility rather than detailed fee schedules or machine locations as of February 2026.

“The machines will allow people in Dushanbe to buy gold bars using a bank card, just like with regular ATMs, and some machines may also offer a buyback option,” said Firdavs Tolibzoda, Chairman of the National Bank of Tajikistan. He characterized the goal as expanding public access to purchasing gold bars.

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