Baku, Azerbaijan, Aug. 16
By Fikret Dolukhanov – Trend:
Kazakhstan ranks 16th in the world for gold reserves, said the Chairman of the National Bank of Kazakhstan Daniyar Akishev, local media reported.
"The share of gold in the reserves of the National Bank has reached 42.3 percent, which is a historic high. This amounts to $12.9 billion in terms of value and to 323 tons in terms of volume. According to the World Gold Council, Kazakhstan is 16th in the world for its gold reserves," he explained.
The gold reserves have increased significantly since 2011, when the National Bank was granted the right for preferential purchase of high karat gold from domestic producers.
A significant amount of gold of the National Bank is stored in Kazakhstan, protecting the country from geopolitical risks, Akishev said.
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