Kazakhstan in top-3 in terms of gold purchases in 2018

01 February, 2019, 11:53 1085
Kazakhstan in top-3 in terms of gold purchases in 2018

World central banks purchased a record number of gold within the previous year. 

In 2018, world central banks purchased overall 651.5 tons of gold, by 74% more compared to the previous year. These amounts are also the biggest since 1971, accounting to US $27 billion, BNews.kz reports referring to Atameken Business.   

A report by the World Gold Council indicates the active purchase of gold in Russia led to an increase in the total purchase.

The top threes in terms of purchasing gold also include Turkey and Kazakhstan. And in the second six months, the growth in the number of purchases led to the increase in gold price following a 10% decrease within the first six months of 2018.

“Most of central banks of emerging-market countries are prone to considerable dollar risks so they should manage these risks through gold reserves,” said Alistair Hewitt, Head of Market Intelligence

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