The National Bank of Kazakhstan Gold Reserves Reach 300 Tons.
Total Kazakhstan gold reserves stood at 299.84 tons at the end of 2017.
Kazakhstan gold reserves are just 10 tons lower than those of the United Kingdom.
Gold now constitutes 41% of Kazakhstan’s overall official reserve assets.
Kazakhstan added 4.043 tons (130,00 ounces) of gold to reserves in December.
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 130,000 ounces of gold to her reserves in December, bringing her total to nearly 300 tons. Kazakhstan’s gold addition in December places it behind 17th place United Kingdom that lists 310.3 tons of gold. The United Kingdom sold a significant portion of its gold reserves in the early 2000’s.
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 December 2017, the Central Bank of Kazakhstan has added gold to her reserves 63 months in a row!
The National Bank of Kazakhstan added 130,000 ounces of gold to her reserves in December 2017.
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Gold as a Percentage of Kazakhstan’s Foreign Reserves
The National Bank of Kazakhstan’s foreign reserves were $30.744 Billion at the end of December 2017, down from $31.072 billion at the end of November, but up from $29.375 billion at the end of January 2017.
The 9.64 million ounces (299.8375164 metric tons) on the National Bank of Kazakhstan’s balance sheet as of the end of December 2017 were worth $12.497 billion or approximately 40.64% of overall reserves.
In contrast, gold as a percentage of overall reserves at the end of December 2017 was approximately 18% at the Russian Central Bank and approximately 2% at the People’s Bank of China.
As of the end of December 2017, the Central Bank of Kazakhstan was the 17th largest gold holding nation, just 10 tons behind the United Kingdom.
Click to see the top 40 gold holding nations.
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