ASTANA, Kazakhstan, July 7. Kazakhstan's second-tier banks and individual non-bank exchange offices sold 4,056 gold bars in May 2023, with a total weight of 155.4 kilos, Trend reports.
The number of gold bars sold in Kazakhstan in the reporting period increased by 30.4 percent month-on-month (3,119 bars in April 2023). The volume of the gold sold has also increased by 56.63 percent, compared to 100.5 kilos in the previous month.
Furthermore, Kazakhstan also saw a year-on-year increase of 22.32 percent in the number of gold bars sold in the reporting period of 2023 (3,316 bars in May 2022).
According to the National Bank of Kazakhstan, the program, launched by Kazakhstan in 2017, envisages selling and buying out refined gold bars for the population. A total of 129,605 gold bars with a total weight of 4.4 tons have been sold since the program was launched.
Since the beginning of the program, second-tier banks and individual non-bank exchange offices have accepted 22,553 dimensional bars with a total weight of 586.4 kilos for repurchase, which is 17 percent of the total volume of sales of dimensional bars. Almost all the measured bars accepted for repurchase are sold to the population without being returned to the branches of the National Bank.
Currently, gold bars for purchase are available at Halyk Bank, Eurasian Bank, Jusan Bank, and CenterCredit Bank, as well as at individual non-bank exchange offices.