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