Kazakhstan Goes For The Gold, Again!
By: Rory Hall
GoldSeek.com
Friday, 4 May 2018
Another month passes and another hundred thousand ounces (3.11 tons) of physical gold get added to the Kazakhstan gold reserve vault. Each month this nation makes another deposit of physical gold and each month the vast majority of media completely ignores it. Not only has she been adding physical gold to her gold reserves for the past 66 straight months the last two years have seen an increase in the overall volume of gold added.
In 2016 Kazakhstan added a total of 36 tons of gold and in 2017 she added an additional 40 tons of physical gold showing more than a 10% increase year-over-year volume. No Kazakhstan is not breaking records or jumping past China and approaching Frances’ gold reserve status such as Russia is doing, but Kazakhstan is passing all her associates and will be moving into the top ten gold holdings in short order. If this trend continues into 2018 Kazakhstan will move into 16th position globally passing Saudi Arabia and approaching 15th position Portugal that holds 382.5 tons. Will anyone notice at that time?
Not only has this tiny country matched the gold reserves of the United Kingdom their gold reserves now constitute 43% of their total reserves – WOW! This shows two things, 1) they’re serious about gold and 2) Kazakhstan has a small GDP footprint. My guess is that as Kazakhstan acquires more gold their GDP will somehow take care of itself and grow along with the size of their physical gold vault. I’m willing to bet that five years from now we will see that exact scenario play out. I’m also willing to bet that IF Kazakhstan continues acquiring gold in the same manner she has for the past five years she will be approaching or surpassing the Netherlands, in 10th position globally, with 612.5 tons of gold reserves.
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