The National Bank of Kazakhstan Added 1.56 Tons (50,000 ounces) of Gold To Reserves in January.
Total Gold Reserves Stood at 259.714 Tons (8.35 million ounces) at end of January 2017.
Kazakhstan added 36.1989 tons (approximately 1,163,820 ounces) of gold to reserves in 2016.
Kazakhstan Gold Reserves Rank 21st in the World.
The National Bank of Kazakhstan added 50,000 ounces of gold to her reserves in January. 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.
The National Bank of Kazakhstan added 50,000 ounces of gold to her reserves in January 2017.
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Gold as a Percentage of Kazakhstan’s Foreign Reserves
The National Bank of Kazakhstan’s foreign reserves were $29.375 billion at the end of January 2017 down from $29.529 billion at the end of December 2016 and down from $29.563 billion at the end of November 2016. Despite the decline in overall foreign reserves, Kazakhstan continued to add gold to her reserves.
The 8.35 million ounces (259.714 metric tons) on the National Bank of Kazakhstan’s balance sheet as of the end of January 2017 were worth $10.015 billion or approximately 34% of overall reserves.
In contrast, gold as a percentage of overall reserves at the end of November 2016 was approximately 16% at the Russian Central Bank and approximately 2% at the People’s Bank of China.
Gold additions by the National Bank of Kazakhstan over the past two years have vaulted it from a top 30 holder to the 21st largest gold holding nation.
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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