BAKU, Azerbaijan, Aug. 18
By Klavdiya Romakayeva - Trend:
Some 2410 gold bars with a total weight of 102.6 kilograms were purchased by Kazakhstanis from second-tier banks and individual non-bank exchange offices in July 2021, Trend reports with reference to Kazinform international news agency.
It is noted that the program for the sale and repurchase of refined gold bars for the population was launched by the National Bank in 2017. Since the beginning of its operation, 60,378 gold bars with a total weight of 2.2 tons have been sold.
It is reported that gold bars in Uzbekistan are available in five varieties: 5, 10, 20, 50, and 100 grams. The most popular among buyers is a 10 gram bar. Its share of the total sales amounts to 30 percent - 17,868 pieces. It is followed by 100-gram – 13,417 pieces (22 percent) and 20-gram – 11,910 pieces (20 percent), 5-gram – 9,842 pieces (16 percent), 50-gram – 7,341 pieces (12 percent). Generally, measured gold bars are in demand in the cities of Almaty, Nur-Sultan and Atyrau.
Gold bars can act as a reliable investment vehicle. The main factor in ensuring the liquidity of the gold bullion market is the possibility of redemption of bullion by banks and non-bank exchange offices with the payment of money to the client “on a day-to-day basis”.
Each gold bar is produced with protective elements (mirror surface of ingots, microtext and embossed edge) and in a special package that protects against mechanical damage and makes it easy to check whether the package has been opened or not. The protective packaging is also a quality certificate. In this regard, it is recommended to store the gold bar carefully and not to open the package.
Currently, it is possible to buy and sell gold bars at Halyk Bank, Eurasian Bank, Jusan Bank, Bank CenterCredit, as well as in some non-bank exchange offices on Kazakhstan.
---
Follow the author on Twitter: @romakayeva