The National Bank of Kazakhstan Gold Reserves Close in on 300 Tons.
Kazakhstan added 3.73 tons (120,00 ounces) of gold to reserves in November.
Total Gold Reserves Stood at 295.7940644 Tons (9.51 million ounces) at end of November 2017.
Kazakhstan added 36.1989 tons (approximately 1,163,820 ounces) of gold to reserves in 2016.
Through November, Kazakhstan has added 36.08 tons of gold in 2017.
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The National Bank of Kazakhstan added 120,000 ounces of gold to her reserves in November, bringing her total to nearly 296 tons. Kazakhstan’s gold addition in November 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 November 2017, the Central Bank of Kazakhstan has added gold to her reserves 62 months in a row.
The National Bank of Kazakhstan added 120,000 ounces of gold to her reserves in November 2017.
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Gold as a Percentage of Kazakhstan’s Foreign Reserves
The National Bank of Kazakhstan’s foreign reserves were $31.072 billion at the end of November down from 31.488 billion at the end of October down from $32.207 billion at the end of September and down from $32.644 billion at the end of August but up from $29.375 billion at the end of January 2017.
The 9.51 million ounces (295.7940644 metric tons) on the National Bank of Kazakhstan’s balance sheet as of the end of November 2017 were worth $12.187 billion or approximately 39.22% 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 Novmeber 2017, the Central Bank of Kazakhstan was the 17th 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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