Kazakhstan replenishes its reserves with record breaking amount of gold

Business Materials 5 May 2019 15:46 (UTC +04:00)

Baku, Azerbaijan, May 5


Kazakhstan is among world leaders by gold purchases in 1Q2019, Trend reports via World Gold Council.

This year central banks around the world broke the record set six years ago on gold purchases.

“Some nine central banks replenished own reserves with more than a ton of gold. Net purchases of central banks in 1Q2019 amounted to 145.5 tons,” the report said.

The first place by gold purchases goes to Russia with the purchased amount of 55.3 tons. It is closely followed Turkey that purchased 40.1 tons and China that purchased 33 tons, the statement said.

“Kazakhstan bought 11.2 tons of gold, its assets have been growing for 78 months in a row now,” stated in the report of the World Gold Council.

Ecuador purchased gold for the first time since 2014, expanding the gold assets by 10.6 tons. It is followed by Qatar (+9.4 tons), and India (+8.4 tons) that began purchasing gold in 2018 after a nine year long break, reads the message.