Kazakhstan ranks seventh in expanding gold reserves, boosting holdings by 151 tons from 2013 to 2023.
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.
U.S. President Donald Trump announced the reimposition of a U.S. naval blockade on all Iranian ports and warned that power plants and bridges could be...
The Ebola epidemic in the Democratic Republic of the Congo (DRC) is spreading faster than efforts to contain it, global humanitarian organisation Méd...
Kyrgyzstan has introduced an indefinite ban on the export of crude oil and petroleum products by road and rail in an effort to prevent fuel shortages ...
Climate change could leave Kazakhstan facing severe water shortages, longer heatwaves and mounting economic losses within decades, as rising temperatures and shrinking glaciers reshape water security across Central Asia, scientists warn.
Afghan authorities in Kabul and Herat have sought wider investment, trade and environmental cooperation with Uzbekistan, Russia, Kazakhstan, Iran and an international aid organisation.
AnewZ ‘s Destination travels to Kazakhstan’s most enchanting and unique retreat: Oi Qaragai Mountain Resort.
AnewZ Original Series 'Destination' features Kazakhstan’s premier winter sports destination and the largest ski resort in Central Asia: Shymbulak Mountain Resort.
The United States carried out a third consecutive night of airstrikes against Iran, targeting military capabilities around the Strait of Hormuz as Donald Trump announced the reinstatement of a blockade on Iranian shipping and proposed a 20% fee on cargo passing through the strategic waterway.
U.S. President Donald Trump announced the reimposition of a U.S. naval blockade on all Iranian ports and warned that power plants and bridges could be targeted next week unless Tehran returns to negotiations.
The death toll from the fire at a live music pub in Bangkok has climbed to 32 after two more victims died from their injuries, according to Thailand's Police Hospital.
Ukraine and Russia exchanged fresh attacks on Tuesday, with Kyiv targeting shipping and energy infrastructure inside Russia while Moscow launched another large-scale missile and drone assault on Ukrainian cities.
IBM has warned that a surge in spending on artificial intelligence infrastructure is weighing on its core business, in one of the clearest signs yet of how the AI boom is reshaping the technology sector.
Kyrgyzstan has introduced an indefinite ban on the export of crude oil and petroleum products by road and rail in an effort to prevent fuel shortages and strengthen the country's energy security.
The Iranian Army's Ground Force promised a crushing response to the U.S. after an air raid on its barracks in the southern city of Bampur on Wednesday (15 July) killed seven servicemen and wounded 13 others.
Pakistan's benchmark stock index recorded its steepest one-day fall in months on Tuesday as renewed fighting between the U.S. and Iran unsettled global markets and heightened fears of disruptions to oil supplies through the Strait of Hormuz. The benchmark KSE-100 Index closed down 3.56%.
A British inquiry has heard fresh allegations that UK special forces killed three Afghan farmers and abused detainees during operations in Afghanistan. The claims were published this week as part of an investigation into alleged unlawful killings and a possible cover-up.
Kyrgyzstan and Tajikistan have begun installing the first border markers along their shared frontier, marking the start of the physical demarcation of a boundary that was disputed for decades before being formally settled under a landmark agreement signed earlier this year.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment