The National Bank of Kazakhstan Passes The Central Bank of Spain To Claim 18th Place Among Gold Holding Nations.
Kazakhstan added 4.67 tons (150,000 ounces) of gold to reserves in August.
Total Gold Reserves Stood at 285.5299 Tons (9.18 million ounces) at end of August 2017.
Kazakhstan added 36.1989 tons (approximately 1,163,820 ounces) of gold to reserves in 2016.
Through August, Kazakhstan has added 27.371 tons of gold in 2017.
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The National Bank of Kazakhstan added 150,000 ounces of gold to her reserves in August, bring her total to 286 tons and passing Spain which holds 282 tons.
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 August 2017, the Central Bank of Kazakhstan has added gold to her reserves 59 months in a row. Three more than Joe Dimaggio famous 56 game hitting streak!
The National Bank of Kazakhstan added 150,000 ounces of gold to her reserves in August 2017.
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Gold as a Percentage of Kazakhstan’s Foreign Reserves
The National Bank of Kazakhstan’s foreign reserves were $32.644 billion at the end of August down from $32.944 billion at the end of July and up from $29.375 billion at the end of January.
The 9.18 million ounces (285.5299 metric tons) on the National Bank of Kazakhstan’s balance sheet as of the end of August 2017 were worth $11.992 billion or approximately 36.7% 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 August 2017, the Central Bank of Kazakhstan was the 18th largest gold holding nation.
Click to see the top 40 gold holding nations.
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