The National Bank of Kazakhstan Added 3.11 Tons (100,000 ounces) of Gold To Reserves in November.
Total Gold Reserves Stood at 254.73 Tons at end of November 2016.
Kazakhstan Gold Reserves Rank 21st in the World.
The National Bank of Kazakhstan added 100,000 ounces of gold to her reserves in November. 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 100,000 ounces of gold to her reserves in November 2016.
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Gold as a Percentage of Kazakhstan’s Foreign Reserves
The National Bank of Kazakhstan’s foreign reserves were $29.563 billion at the end of November 2016 down from $30.314 billion at the end of October and down from $31.23 billion at the end of September 2016. Despite the decline in overall foreign reserves, Kazakhstan continued to add gold to her reserves.
The 8.19 million ounces (254.73 metric tons) on the National Bank of Kazakhstan’s balance sheet as of the end of Novemberr 2016 were worth $9.723 billion or approximately 33% of overall reserves.
In contrast, gold as a percentage of overall reserves at the end of November 2016 was approximately 15% at the Russian Central Bank and approximately 2% at the People’s Bank of China.
Click to see the top 40 gold holding nations.
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