ALMATY, Feb. 7 (Xinhua) — Kazakhstan ranks second globally for the quantity of gold offered from its overseas trade reserves in latest months, in accordance with knowledge launched by the World Gold Council on Friday.
The National Bank of Kazakhstan offered 1.89 tons of gold within the fourth quarter of 2024. Only Singapore’s central financial institution was extra energetic, offloading 7.65 tons throughout the identical interval.
Among Central Asian nations, Kazakhstan holds the second-largest gold reserves at 284.05 tons, trailing Uzbekistan, which has 382.57 tons.
Globally, Kazakhstan ranks 14th when it comes to gold reserves by tonnage. However, these figures are preliminary, because the World Gold Council lacks full knowledge for the fourth quarter of 2024 for a number of nations.
Kazakhstan’s reserves are considerably smaller than these of India or Japan and almost 29 occasions smaller than the highest holder, the United States.
In distinction, Kazakhstan’s Central Asian neighbors have been growing their gold reserves: Kyrgyzstan lately added 12.17 tons, and Uzbekistan acquired 8.71 tons.
The National Bank of Kazakhstan has been actively promoting from its reserves, which had been estimated at 295 tons within the third quarter of 2024. During that quarter, Kazakhstan offered almost 12.9 tons of gold.