Kazakhstan topped the list of countries that bought the most gold in August, adding eight tons to its reserves, according to World Gold Council data released on October 3. This purchase represents more than half of the total global purchases of 15 tons during the same month, bringing Kazakhstan’s total reserves to 316 tons, an increase of 32 tons since the end of 2024. For comparison, Turkey, China, Uzbekistan, the Czech Republic, and Bulgaria each bought only two tons, while the Central Bank of Russia reduced its reserves by selling three tons.
Since the beginning of 2025, Kazakhstan has ranked second globally in gold purchases, with a total of 15.65 tons, after Poland, which purchased 18.66 tons. This reserve expansion comes amid unprecedentedly high gold prices and increased demand for safe-haven assets. Analysts believe this move reflects Kazakhstan’s strategic policy to diversify its financial reserves and enhance its economic stability amid global uncertainty.
