The National Bank of Kazakhstan Gold Reserves Top 310 Tons.
Total Kazakhstan gold reserves stood at 310.1016637 tons at the end of March 2018.
Kazakhstan gold reserves are just .2 tons lower than the 310.3 tons held by the United Kingdom.
Gold constituted 43% of Kazakhstan’s overall official reserve assets as of March 31, 2018.
Kazakhstan added 3.1103 tons (100,00 ounces) of gold to reserves in March.
Kazakhstan added approximately 36 tons of gold (approximately 1,163,000 ounces) to reserves in 2016.
Kazakhstan added 40 tons of gold (approximately 1,286,000 ounces) in 2017.
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The National Bank of Kazakhstan added 100,000 ounces of gold to her reserves in March, bringing her total to 310.1 tons. Kazakhstan’s gold addition in March places it in a virtual tie for 16th place with the United Kingdom among gold holding nations. According to the World Gold Council the United Kingdom holds 310.3 tons of gold. The United Kingdom sold a significant portion of its gold reserves in the early 2000’s.
According to the International Monetary Fund the GDP of the United Kingdom was $2.5 trillion in 2017, while the GDP of Kazakhstan was $160 billion. Kazakhstan’s Gold was worth $13.1 billion as of March 31, 2018.
Along with the Central Bank of Russia and The People’s Bank of China, the National Bank of Kazakhstan is one of the few central banks that have been adding gold to reserves over the past ten years.
As of March 2018, the Central Bank of Kazakhstan has added gold to her reserves 66 months in a row!
The National Bank of Kazakhstan added 100,000 ounces of gold to her reserves in March 2018.
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Gold as a Percentage of Kazakhstan’s Foreign Reserves
The National Bank of Kazakhstan’s foreign reserves were $30.648 billion at the end of March, down from $30.993 at the end of February 2018, from $31.348 at the end of January 2018 and from $30.744 Billion at the end of December 2017 but up from $29.375 billion at the end of January 2017.
The 9.97 million ounces (310.1016637 metric tons) of gold on the National Bank of Kazakhstan’s balance sheet as of the end of March 2018 were worth $13.197 billion or approximately 43.05% of overall reserves.
In contrast, gold as a percentage of overall reserves at the end of February 2018 was approximately 18% at the Russian Central Bank and approximately 2% at the People’s Bank of China.
As of the end of March 2018, the Central Bank of Kazakhstan was the 17th largest gold holding nation,about three tons behind the United Kingdom.
Click to see the top 40 gold holding nations.
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Kazakh gold holdings sources – World Gold Council, National Bank of Kazakhstan
Further Reading:
Chinese Gold Reserves (monthly archive)
Russian Gold Reserves (monthly archive)
Kazakh Gold Reserves (monthly archive)
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