Kazakhstan ranks seventh among countries that have been actively increasing their gold reserves. Over the past decade, the nation added 151 tons of gold to its reserves.
Leading the way is Russia, which significantly expanded its reserves by 1,298 tons, followed by China with an increase of 1,181 tons and Türkiye, which added 424 tons.
Poland follows in fourth place with 256 tons, while India and Uzbekistan boosted their reserves by 246 and 154 tons, respectively. After Kazakhstan, Singapore added 103 tons, Iraq 100 tons, and Thailand 92 tons.
In Kazakhstan, gold prices have surged this year, rising by 31%, according to the National Bank. The price per gram reached 39,889 tenge (about US$81.76) as of September 20, up from 30,323 tenge (approximately US$62.16) at the start of the year. Additionally, December futures have shown positive growth, increasing by 0.35% to $2,623 per ounce.
The World Gold Council's 2024 Central Bank Gold Reserves Survey indicates that the ongoing geopolitical tensions and challenging financial climate are driving demand for gold. In 2023, central banks around the world collectively added 1,037 tons of gold, marking the second-highest annual acquisition in history after a record 1,082 tons in 2022.
Central banks continue to favor gold as a reserve asset, with the survey—conducted from February 19 to April 30 among 70 participants—revealing that 29% of central banks plan to increase their gold reserves within the next year. This is the highest intention recorded since the survey's inception in 2018.
The motivations behind these planned purchases include a desire to adjust to a more favorable strategic level of gold holdings, domestic gold production, and concerns over financial markets, such as rising crisis risks and inflation.
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Kazakhstan’s Energy Minister Almasadam Satkaliev led a delegation to South Korea to advance collaboration in nuclear energy, renewables, and oil and gas. Meetings included top Korean firms, with plans for a nuclear plant consortium and a focus on energy security by 2035.
U.S. stocks dip as election nears, with Trump and Harris in a tight race and investors bracing for Fed policy news.
UN Deputy Secretary-General Amina Mohammed urged fair policies for clean energy minerals, highlighting the need for equity, transparency, and environmental protection as demand soars worldwide.
Retailers like Walmart are using advanced weather data to shape local promotions and inventory, adjusting prices on seasonal items like sunscreen and winter gear. New tools help companies plan amid unpredictable weather patterns driven by climate change.
AstraZeneca’s new weight-loss pill, AZD5004, shows promise in early trials with tolerable side effects, advancing to Phase II studies focused on reducing obesity.
Ryanair has trimmed its passenger growth target for the year ending March 2026 from 215 million to 210 million due to Boeing delivery delays. Despite a reported after-tax profit of 1.79 billion euros, average fares dropped by 10% this year.
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