The National Bank of Kazakhstan Gold Reserves Top 318 Tons.
Having passed United Kingdom’s gold reserves, Kazakhstan eyes Saudi Arabia
Total Kazakhstan gold reserves stood at 318.8106372 tons at the end of May 2018.
Kazakhstan gold reserves are now 8.5 tons higher than the 310.3 tons held by the United Kingdom.
Gold constituted 43.5% of Kazakhstan’s overall official reserve assets as of May 31, 2018.
Kazakhstan added 4.354487 tons (140,00 ounces) of gold to reserves in May.
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.
Smaulgld Super Classic Mug – $23.99 with Free Shipping in the Continental United States.
Smaulgld Classic Mug – $19.99 with Free Shipping in the Continental United States.
The National Bank of Kazakhstan added 140,000 ounces of gold to her reserves in May, bringing her total to 318.811 tons. Kazakhstan’s gold addition in May places it in fifteenth place ahead of 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 $13.316 billion as of April 30, 2018.
Along with the Central Bank of Russia, Turkey 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 few years.
The Central Bank of the Kyrgyz Republic is also adding gold, albeit in smaller amounts. In February 2017, The Kyrgyz Central Bank Governor Tolkunbek Abdygulov while adding gold to the central banks coffers, also urged its citizens to buy gold. At the time the Central Bank of Kyrgyzstan had about five tons of gold. As of the end of May 2018, its gold reserves had swollen to eight tons.
As of May 2018, the Central Bank of Kazakhstan has added gold to her reserves 68 months in a row!
The National Bank of Kazakhstan added 140,000 ounces of gold to her reserves in May 2018.
You can buy Bitcoin, Ethereum and Litecoin through Coinbase.
Click HERE to open a coinbase account and get $10 of free Bitcoin.*
Not a Smaulgld subscriber? Sign up here.
Donate To Smaulgld.com via paypal
Gold as a Percentage of Kazakhstan’s Foreign Reserves
The National Bank of Kazakhstan’s foreign reserves were 30.720 billion at the end of May down from $31.339 billion at the end of April but up from $30.648 billion at the end of March.
The 10.25 million ounces (318.8106372 metric tons) of gold on the National Bank of Kazakhstan’s balance sheet as of the end of May 2018 were worth $13.357 billion or approximately 43.5% of overall reserves.
In contrast, gold as a percentage of overall reserves at the end of May 2018 was approximately 17.6% at the Russian Central Bank and approximately 2% at the People’s Bank of China.
According to the USGS, Kazakhstan has increased it gold production from about 22 tons of gold a year in 2008 to about 77 tons in 2017. As Russia converts its roubles into domestically mined gold, Kazakhstan is converting its Kazakhstani Tenge into gold.
As of the end of Mayl 2018, the Central Bank of Kazakhstan was the 15th largest gold holding nation.
Click to see the top 40 gold holding nations.
NEW! The Smaulgld Store is Now Open – Click to Visit the Smaulgld Store
Donate To Smaulgld.com via paypal
Compare Pricing and Shipping on American Gold Eagle Coins
You can compare pricing and shipping charges on American Gold Eagles coins of all sizes at these web sites:
SD Bullion
Golden Eagle Coins
Money Metals Exchange
Please consider making a small donation to Smaulgld.com. Thanks!
If you have enjoyed this report, please consider buying your precious metals through the Smaulgld affiliates linked to on this site* and subscribing (for free) to Smaulgld.com.
Get Free Updates From Smaulgld.com
Subscribe to Smaulgld.com to receive free gold and silver updates, news and analysis.
Browse Collectible Coins on Amazon
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)
Please visit the Smaulgld Store for a large selection of recommended Kindles, books, music, movies and other items.
You can support Smaulgld.com by making all your Amazon purchases through the search widget below and by ordering your gold and silver by clicking on the Goldbroker, Golden Eagle Coin, Money Metals Exchange, SD Bullion and Royal Canadian Mint ads on the site.
*DISCLOSURE: Smaulgld provides the content on this site free of charge. If you purchase items though the links on this site, Smaulgld LLC. will be paid a commission. The prices charged are the same as they would be if you were to visit the sites directly. Please do your own research regarding the suitability of making purchases from the merchants featured on this site.
Chart Disclaimer: Information presented here has been obtained from a third party and is presented for information purposes only. Smaulgld can not and does not guarantee the accuracy or timeliness of the data displayed on this site and therefor the data provided should not be used to make actual investment decisions. You should always consult a professional investment adviser before investing in precious metals or any type of investment. You acknowledge that Smaulgld assumes no responsibility for the integrity of data on this site.
The content provided here is for informational purposes only. Making investment decisions based on information published by Smaulgld (SG), or any Internet site, is not a good idea. Accordingly, users agree to hold SG, its owner and affiliates, harmless for all information presented on the site. SG presents no warranties. SG is not responsible for any loss of data, financial loss, interruption in services, claims of libel, damages or loss from the use or inability to access SG, any linked content, or the reliance on any information on the site.
The information contained herein does not constitute investment advice and may be subject to correction, completion and amendment without notice. SG assumes no duty to make any such corrections or updates. As with all investments, there are associated risks and you could lose money investing. Prior to making any investment, a prospective investor should consult with its own investment, accounting, legal and tax advisers to evaluate independently the risks, consequences and suitability of that investment. SG disclaims any and all liability relating to any investor reliance on the accuracy of the information contained herein or relating to any omissions or errors and as such disclaims any and all losses that may result.
Send Litecoin to this address:
