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Over 8,200 gold bars sold in March

In March 2022, second-tier banks and non-bank currency exchange offices sold a total of 8,269 gold bullion bars of total weight 167.2 kg which is 2.9 times higher year-on-year (2,898 gold bullion weighing 48.2 kg).

The increase in sales is connected with a growing interest of households to invest in gold as an alternative tool to ensure security of savings in uncertain financial conditions and higher volatility of currency rates.

National Bank launched the program of sale and repurchase of bullion bars of refined gold for individuals (hereinafter the ‘Program’) in 2017. Overall, 87,531 gold bars of total weight 3 tons have been sold since its launch.

The gold bars are offered in five varieties: 5, 10, 20, 50 and 100 grams. The 10 gram bars are the most popular among the buyers accounting for 27% of the total sales volume, or 23,390 pieces. These are followed by the 20 gram ingots which make 18,178 pieces (21%) and 100 gram ingots – 18,034 pieces (20%), the 5 gram ingots – 16,834 pieces (19%), the 50 gram ingots – 11,095 pieces (13%). Gold bullion bars are in greater demand mainly in the cities of Almaty, Nur-Sultan and Atyrau.

The key factor to ensure a liquid market of gold bars is the possibility for banks and non-bank currency exchange offices to repurchase the gold bullion bars with payment of money to the client on the same day. Since the Program’s launch, second-tier banks and non-bank exchange offices accepted 12,367 gold bullion bars with a total weight of 303.3 kg for repurchase, which comprises 14% of the total volume of sales of bullion bars. Almost all the ingots accepted for buyback were sold without return to NBK branches.

Each gold bullion bar is released with safety elements (the mirror surface, microtext and embossed edge) in a special packaging which protects against mechanical damages and allows an easy check if packaging was unsealed. The protective packaging also serves as a quality certificate. Therefore, careful storage of ingots is recommended. Unsealing the packaging is not recommended!

Today, gold bullion bars are available for individuals for purchase and sell back at Halyk Bank, Eurasian Bank, Jusan Bank, Bank CenterCredit, and also non-bank currency exchange offices.

Detailed information is available for the mass media representatives upon request:
+7 (7172) 77- 52-10
e-mail: press@nationalbank.kz
www.nationalbank.kz

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