The National Bank of Kazakhstan added 150,000 ounces of gold to her reserves in September, bring her total to 289 tons and passing Lebanon which holds 286 tons. Kazakhstan’s gold addition in September places it behind 16th place United Kingdom that lists 310.3 tons of gold. The United Kingdom sold a signficant portion of its gold reserves in the early 2000’s.
Gold as a Percentage of Kazakhstan’s Foreign Reserves
The National Bank of Kazakhstan’s foreign reserves were $32.207 billion at the end of September down from $32.644 billion at the end of August and up from $29.375 billion at the end of January 2017.
The 9.30 million ounces (289.26233 metric tons) on the National Bank of Kazakhstan’s balance sheet as of the end of September 2017 were worth $11.971 billion or approximately 37.2% 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.
As of the end of September 2017, the Central Bank of Kazakhstan was the 17th largest gold holding nation.
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