Tengrinews.kz - Kazakhstani citizens in the third quarter purchased around 14,000 gold bars, totaling 475.5 kilograms, according to the National Bank's press service.
The National Bank launched the program for selling and buying back measured gold bars for the public in 2017. Since the program's inception, a total of 199,235 gold bars, weighing 7.4 tons, have been sold.
"Gold bars are available in five varieties: 5, 10, 20, 50, and 100 grams. The 10-gram bar is the most popular among buyers, accounting for 24 percent of total sales, with 48,629 pieces sold," the National Bank reported.
The largest sales volumes in the third quarter were in Almaty (8,101 pieces, 58 percent), Shymkent (1,279 pieces, 9 percent), and Astana (1,243 pieces, 9 percent).
The National Bank reminded that gold bars can serve as a reliable investment tool. The main factor ensuring the liquidity of the gold bar market is the possibility of buyback by banks and non-bank exchange points, with payments made to the customer on the same day. Since the program began, 41,058 measured bars, totaling 1.1 tons, have been bought back, which represents 21 percent of the total volume of measured gold bars sold.
"Each bar comes with protective features (mirror-like surface, microtext, and embossed edge) and is packaged in special packaging that protects against mechanical damage and allows for easy verification of whether the packaging has been tampered with. The protective packaging also serves as a certificate of quality. Therefore, it is recommended to handle the bar carefully and not to open the packaging," the publication states.
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