Kazakhstan’s central bank plans to reduce its gold holdings as U.S. Treasury yields surge
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The National Bank of Kazakhstan is moving from being one of the world's largest buyers of gold to being a seller. According to the Banker.az news agency, citing Bloomberg, the bank plans to reduce the share of gold in its foreign exchange reserves from 78% to 75% by the end of 2026. Currently, the country's gold reserves amount to 386 tons. As of the end of September, the total volume of foreign exchange reserves reached $66.4 billion. Half of t…
U.S. Treasury yields are so high that one of the world's biggest gold buyers wants out of some holdings
Kazakhstan, one of the world’s biggest gold buyers, is preparing to sell some holdings as U.S. Treasury yields soar. Bonds now offer returns that bullion cannot: gold itself pays no interest. The National Bank of Kazakhstan wants gold’s weight in its reserves to reduce from 78% to 75% by year-end. Reserves amounted to 386 tons...
Kazakhstan’s central bank plans to reduce its gold holdings as U.S. Treasury yields surge
Kazakhstan, one of the world’s biggest gold buyers, is preparing to sell some holdings as U.S. Treasury yields soar. Bonds now offer returns that bullion cannot: gold itself pays no interest. The National Bank of Kazakhstan wants gold’s weight in its reserves to reduce from 78% to 75% by year-end....
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