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Kazakh Central Bank: To Buy All Locally Produced Gold

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24hGoldWire
24hGold
Published : August 29th, 2011
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ALMATY, Kazakhstan -- The National Bank of Kazakhstan said it will exercise its right to buy all locally produced gold to replenish its reserves, a move expected to reduce the mineral-rich Central Asian country's gold exports.


Kazakhstan ranked 20th in world gold production in 2010, with output of 26.9 tons, compared with 2,688.9 tons worldwide, according to GFMS.  The country boosted its gold output to 18.832 tons of gold in the first half of 2011, according to state statistics.


The central bank's statement, which was e-mailed to reporters but not posted on its website, said the bank would exercise its pre-emptive right to gold purchases "in full", but it didn't say gold exports would cease.


You can find Kazakstan’s Gold statistics here


24hGold - Kazakh Central Bank:...

 

 

Data and Statistics for these countries : Kazakhstan | All
Gold and Silver Prices for these countries : Kazakhstan | All
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