Kazakhstan Adds Gold To Reserves For 61st Month in a Row

The National Bank of Kazakhstan Solidifies 17th Place Among Gold Holding Nations.

Kazakhstan added 1.87 tons (60,000 ounces) of gold to reserves in October.

Total Gold Reserves Stood at 292.0616472 Tons (9.39 million ounces) at end of October 2017.

Kazakhstan added 36.1989 tons (approximately 1,163,820 ounces) of gold to reserves in 2016.

Through October, Kazakhstan has added 33.911 tons of gold in 2017.

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The National Bank of Kazakhstan added 60,000 ounces of gold to her reserves in October, bring her total to 292 tons and passing Lebanon which holds 286 tons. Kazakhstan’s gold addition in October 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 October 2017, the Central Bank of Kazakhstan has added gold to her reserves 61 months in a row, five more than Joe Dimaggio famous 56 game hitting streak!

Central Bank of Kazakhstan gold reserves 2015 - 2017 through October

The National Bank of Kazakhstan added 60,000 ounces of gold to her reserves in October 2017.

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Gold as a Percentage of Kazakhstan’s Foreign Reserves

The National Bank of Kazakhstan’s foreign reserves were $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 9.39 million ounces (292.0616472 metric tons) on the National Bank of Kazakhstan’s balance sheet as of the end of September 2017 were worth $11.962 billion or approximately 37.9% of overall reserves.

In contrast, gold as a percentage of overall reserves at the end of May 2017 was approximately 18% at the Russian Central Bank and approximately 2% at the People’s Bank of China.

Gold reserves by country top 11-20

As of the end of October 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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