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Kazakhstan Residents Bought Over 1,800 Gold Bars in May

19 July 2021

Citizens of Kazakhstan bought 1,813 small bars of total weight 60.7 kg from second-tier banks and separate non-bank currency exchange shops in May 2021.The National Bank launched a program of sale and repurchase of small bars of refined gold for population (hereinafter the ‘Program’) in 2017. Overall, 54,780 gold bars of total weight 1.95 ton have been sold since its launch.

Gold bars are offered in five varieties: 5, 10, 20, 50 and 100 grams. 10 gram ingots are the most popular among buyers accounting for 30% of the total sales volume or 16,630 pieces. They are followed by 100 gram ingots – 12,128 pieces (22%) and 20 gram ingots – 11,430 pieces (21%), 5 gram ingots – 8,650 pieces (16%), 50 gram ingots – 5,942 pieces (11%). Small bars enjoy high demand in the cities of Almaty, Nur-Sultan and Atyrau.Gold bars can be a reliable  investment tool. Key factor to ensure a liquid market of gold bars is an opportunity for banks and non-bank currency exchange shops to repurchase ingots with payment of money to a client on a same day. Since the launch of the Program, a total of 177 small bars of an overall weight 5.8 kg have been accepted for repurchase. This is because gold ingots are a long-term tool of investment and saving.

Each ingot is released with safety elements (mirror surface of ingots, microtext and embossed edge) in a special packaging which protects it against mechanical damages and allows easily check if packaging was unsealed. Protective packaging also serves as a quality certificate. Therefore, careful storage of ingots is recommended. Do not unseal its packaging!Today, the population can buy and sell back gold bars at Halyk Bank, Eurasian Bank, Jusan Bank, Bank Center Credit and also separate non-bank currency exchange shops.

 

Source: https://nationalbank.kz/en/news/novosti/11758