ALMATY, Feb 8 (NNN-KNA) – Kazakhstan ranks second, globally, for the amount of gold sold from its foreign exchange reserves in recent months, according to data released by the World Gold Council, yesterday.
The National Bank of Kazakhstan sold 1.89 tonnes of gold, in the fourth quarter of 2024. Only Singapore’s central bank was more active, offloading 7.65 tonnes during the same period.
Among Central Asian nations, Kazakhstan holds the second-largest gold reserves at 284.05 tonnes, trailing Uzbekistan, which has 382.57 tonnes.
Globally, Kazakhstan ranks 14th in terms of gold reserves by tonnage. However, these figures are preliminary, as the World Gold Council lacks complete data for the fourth quarter of 2024 for several countries.
Kazakhstan’s reserves are significantly smaller than those of India or Japan and nearly 29 times smaller than the top holder, the United States.
In contrast, Kazakhstan’s Central Asian neighbours have been increasing their gold reserves: Kyrgyzstan recently added 12.17 tonnes, and Uzbekistan acquired 8.71 tonnes.
The National Bank of Kazakhstan has been actively selling from its reserves, which were estimated at 295 tonnes in the third quarter of 2024. During that quarter, Kazakhstan sold nearly 12.9 tonnes.– NNN-KNA
