-- Published: Friday, 4 May 2018 | Print | Disqus
By Rory Hall
Another month passes and another hundred thousand ounces (3.11 tons) of physical gold get added to the Kazakhstan gold reserve vault. Each month this nation makes another deposit of physical gold and each month the vast majority of media completely ignores it. Not only has she been adding physical gold to her gold reserves for the past 66 straight months the last two years have seen an increase in the overall volume of gold added.
In 2016 Kazakhstan added a total of 36 tons of gold and in 2017 she added an additional 40 tons of physical gold showing more than a 10% increase year-over-year volume. No Kazakhstan is not breaking records or jumping past China and approaching Frances’ gold reserve status such as Russia is doing, but Kazakhstan is passing all her associates and will be moving into the top ten gold holdings in short order. If this trend continues into 2018 Kazakhstan will move into 16th position globally passing Saudi Arabia and approaching 15th position Portugal that holds 382.5 tons. Will anyone notice at that time?
The chart below, courtesy of Statista, shows reserves through February 2018.
Smaulgld produced the following the chart that includes March 2018 to drive home the idea even further.
Not only has this tiny country matched the gold reserves of the United Kingdom their gold reserves now constitute 43% of their total reserves – WOW! This shows two things, 1) they’re serious about gold and 2) Kazakhstan has a small GDP footprint. My guess is that as Kazakhstan acquires more gold their GDP will somehow take care of itself and grow along with the size of their physical gold vault. I’m willing to bet that five years from now we will see that exact scenario play out. I’m also willing to bet that IF Kazakhstan continues acquiring gold in the same manner she has for the past five years she will be approaching or surpassing the Netherlands, in 10th position globally, with 612.5 tons of gold reserves.
chart as of Nov. 2017 – statista
To me this is one of the more important nations to continually add to their gold reserves for two very simple reasons – they were chosen by China to smelt gold for the Belt and Road Initiative and they are members of the EAEU and SCO while they work very closely with the heads of both of these two economic alliances. Kazakhstan is, literally, the doorstep of both China and Russia. Kazakhstan makes up a measurable portion of the border between these two economic powerhouses.
chart – smaulgld – as of May 2, 2018 represents gold reserves of countries ranked 11-20
https://thedailycoin.org/2018/05/02/kazakhstan-goes-for-the-gold-again/
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-- Published: Friday, 4 May 2018 | E-Mail | Print | Source: GoldSeek.com
