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Kazakhstan Plans to Increase Gold’s Share to 20% of Reserves

Kazakhstan plans to raise the amount of gold it holds as part of its international reserves to 20 percent from 15 percent.

The central bank is buying 24.5 metric tons of gold this year, Bisengaly Tadzhiyakov, deputy chairman of the country’s central bank, told reporters today in the capital, Astana. Its 98.2 tons held by April made Kazakhstan the 35th largest official sector owner of gold, between Poland and Australia, according to the World Gold Council, citing International Monetary Fund data.