How not to lose money when buying gold in Kazakhstan

Buying and exchanging gold

In every city you can sell or donate old or tired gold items. It will also be possible to hand over gold in Almaty-Utah at a decent price at any gold collection point. Pawn shops buy gold in the city. It is worth remembering that the price per gram is 1,400 rubles. Also, if you have gold bars, you can sell them at a high price to banks, and they will give you money for them, but this is not available in all banks in the city. If you take a closer look at the prices in this city, you will make sure that it will be more profitable for you to earn money at the reception of a jewelry workshop, where you can also have precious stones valued, if, for example, you are selling a ruby ​​ring. In jewelry stores you can exchange gold in Almaty-Utah. With some additional payment you can buy luxurious dyeing.

Gold bars Purchase: 24900.0 / Sale: 25900.0 / National Bank rate: 25759.26

WHY BUY “GOLD BULLON OF THE NATIONAL BANK OF THE RK”?

PRESENT. A solid and original gift for birthdays, weddings, New Years and other holidays and family celebrations. The advantage of such a gift is that after purchase the bullion does not lose its value. Unlike other gifts, you do not need to sell it on the secondary market to receive cash; you just need to come to us and sell it without significant losses, and possibly with a profit due to an increase in the exchange rate.

INVESTMENTS. For entrepreneurs and investors, purchasing gold bars from the National Bank of the Republic of Kazakhstan is a reliable investment decision, a confident understanding of the safety of capital, and a good safety net for business.

SAVING. The time comes when you need to think not only about your future, but also about the future of your family. At this moment, purchasing gold bars from the National Bank of the Republic of Kazakhstan is a necessary and reliable investment for your future and the future of your family.

PLEDGE. For holders of gold bars of the National Bank of the Republic of Kazakhstan, there is an opportunity to earn trust in the eyes of creditors by using bars as security for the fulfillment of obligations to commercial and non-profit organizations.

PRODUCT. Gold bars of the National Bank of the Republic of Kazakhstan are made of pure gold of 999.9 purity and are not mixed with other metals during alloying, which makes it possible to melt the bars into the desired, exclusive product for yourself by turning to the services of a jeweler. When you melt down gold jewelry, you get a smaller amount of gold due to the composition of the product mixed with other metals. You end up losing weight and quality of the final product during secondary melting.

HOW TO BUY AND SELL “GOLD BURNINGS OF THE NATIONAL BANK OF THE RK”?

WE HAVE. In the entire network of MiG currency exchange offices located in most areas of the city. Spending a minimum amount of time on this, carrying only an identity document.

HOW MANY? Our company provides its clients with the opportunity to purchase and sell 5,10,20,50,100 gram gold bars of the National Bank of the Republic of Kazakhstan. The purchase and sale price of gold bars of the National Bank of the Republic of Kazakhstan is set per gram of gold, and not per nominal bar. Therefore, buyers have the opportunity to purchase any number of gold bars divisible by five. For example, if you have a 50 gram gold bar with you, but you need one 100 gram gold bar, you only pay extra for 50 grams and give up your 50 gram gold bar and receive one 100 gram gold bar. You can perform this operation with all nominal bars listed above.

DISCOUNTS. Clients who filled out a form in the “Get a % discount” section on the website www.mig.kz or through the mobile application “MiG receive a 5% discount on the difference between the purchase and sale of gold bars of the National Bank of the Republic of Kazakhstan when buying or selling for an amount exceeding the equivalent of 500 000tg. A 10% discount on the difference between the purchase and sale of gold bars of the National Bank of the Republic of Kazakhstan is provided when buying or selling from 100 grams.

WHY NATIONAL BANK OF RK GOLD BULLONDS?

STABILITY. If you look at the history of the use of gold in Kazakhstan, you will notice that it not only grows in price, but is also not subject to sharp depreciation. Based on this, funds transferred to gold bars of the National Bank of the Republic of Kazakhstan during periods of currency fluctuations and sudden devaluations also serve to protect your capital from inflation.

PAPER OR METAL? Due to the compact appearance and the ratio of the gold bar of the National Bank of the Republic of Kazakhstan to the money supply, they are convenient to transport and store, the bars do not take up much space. There is no need to worry about the depreciation, obsolescence or withdrawal from circulation of gold bars of the National Bank of the Republic of Kazakhstan, unlike paper currency, which constantly updates its appearance and goes out of circulation after a certain time.

AUTHENTICITY AND CERTIFICATION: Each gold bar of the National Bank of the Republic of Kazakhstan is equipped with protective elements (mirror surface of the bars, microtext and relief edge) and is produced in special packaging that protects the bars from mechanical damage and makes it easy to check whether the packaging has been opened or not.

Images on the front side of the bars:

In the upper part there is a figure of a deer, the inscriptions “Kazakhstan”, “Kazakhstan”.

In the center of the bar there are the inscriptions “ALTYN” and “GOLD” with the weight indicated in the upper part and the numbers 999.9 in the lower part, indicating the purity of the metal.

At the bottom there is the logo of the Kazakhstan Mint and the number of the bar.

Images on the reverse side of the bars:

At the top is the logo of the National Bank.

In the center is a stylized figure of a winged leopard.

Protective packaging is a certificate of quality of the ingot.

“SMART MONEY” IS IN GOLD”

According to analysts at Mitsubishi Bank, next year in 2021, the smart money will continue to sit in gold as a hedge, as there will be many disappointing factors in the global economy. This indicates the demand for the precious metal as a protective asset against the backdrop of uncertainty in the global economy. Let us recall that for the entire 2021, the gold rate increased by 25% amid the trade war between the United States and China, as well as the weakening of the Fed’s monetary policy. The rally continued in 2020 amid an approaching global recession due to the COVID-19 coronavirus pandemic. When the latest version of the gold standard, adopted after World War II at Bretton Woods (USA), fell victim to economic shortsightedness of the authorities in 1971, the yellow precious metal became freely traded, and its value increased by an average of 10% per year. Since then, gold has been a reliable indicator of the decline in the purchasing power of paper currencies.

The world's leading investment banks (for example, Goldman Sachs, Bank of America) predict that gold prices will rise to $2,000-$3,000 in the next two years due to the economic and geopolitical consequences of the pandemic. Thus, it is likely that in the long term gold will set a new record, exceeding the 2011 level ($1921 per ounce). Therefore, investors should allocate at least 10% of their investment portfolio to gold to reduce risks and balance total returns. Bloomberg writes that Bank of America has improved its 18-month forecast for the price of gold. The bank's analysts expect that the price of the precious metal will reach $3,000 in a year and a half. This year, the average price of gold will be $1,695 per ounce, and next year it will rise to $2,063, according to bank analysts. In a year and a half, the price of one ounce of gold will reach $3,000 and will exceed the current record of 2011 by 50%, according to Bank of America analysts. Gold is not a productive asset; its profitability is determined only by appreciation. The yellow metal is a protective asset that investors use to preserve their savings and capital. In a world where trillions of dollars and other fiat currencies are created at the behest of Central Banks, it is gold that manages to maintain its yield and not suffer from inflation.

The stability of the precious metal as a store of value and a form of money is confirmed by the experience of mankind: for more than three thousand years, since the times of the Egyptian pharaohs, gold has been considered a metal incomparable in its usefulness and beauty!

June 2021

ABOUT GOLD:

People have been mining gold since time immemorial. Humanity encountered gold already in the 5th millennium BC. e. in the Neolithic era due to its distribution in a native state.

According to archaeologists, systematic mining began in the Middle East, from where gold jewelry was supplied, in particular, to Egypt. It was in Egypt, in the tomb of Queen Zer and one of the queens Pu-abi Ur, that the first gold jewelry dating back to the 3rd millennium BC was found in the Sumerian civilization. e.

Since then, it has been considered a symbol of wealth and was used to make jewelry and luxury items. Later it began to be used as payment for goods.

History knows such a phenomenon as the gold rush, when the discovery of new gold deposits led to dramatic changes in the economy of entire regions and the whole world. For example, in 1700, gold began to be mined in Brazil. In a matter of years, the country has become the world's main supplier of the precious metal, producing up to 15 thousand tons per year. Gold miners flocked to Brazil, and this influenced the development of the new continent. In 1848, gold was discovered in California. This was one of the factors that contributed to the creation of a country like the United States of America. In 1850, the discovery of gold deposits in Australia caused a flow of settlers to new territories. The most famous gold rush began in 1896, when two Canadian geologists discovered reserves of the metal near the Yukon River. The name of this field - Klondike - has become a household name. A similar story happened a decade later in South Africa, with only one difference: there gold was already mined by corporations and industrially.

Today, several gold mining technologies are known: washing, amalgamation using mercury, cyanidation and regeneration. In total, the world produces an average of about 2,500 tons of gold per year. The largest amount of gold in the world is mined in South Africa. Next come China, Australia, USA, Peru, Russia, Canada, Mali, Uzbekistan, Ghana.

According to current data from the World Gold Council and according to the rating of the World Gold Council, excluding the IMF and the ECB, Kazakhstan is in 13th place among gold-holding countries. In terms of precious metal volumes, the republic has surpassed Saudi Arabia and the UK. The gold portfolio of the National Bank of Kazakhstan as of September 10, 2021 is 333 tons, which is equivalent to $12.8 billion. Gold accounts for 42.7% of the country’s total reserves.

The largest share of gold is registered in the United States – 8,133.5 tons. At the same time, the precious metal occupies a significant share of the country’s total gold and foreign exchange reserves – 73.7%. The world's largest reserve of gold has become significantly scarcer since the 50s of the last century; for example, in 1952, the volume of the precious metal in the country's reserves was 20.66 thousand tons. Since the 2000s, the figure has remained unchanged.

In European countries, Germany is the leader in gold reserves, and it ranks second in the world in terms of this indicator. In September of this year, the volume of pure gold in its state reserves amounted to 3,369.9 tons, which corresponds to 69.1% of the country’s gold and foreign exchange reserves. Germany began to form its gold reserves in the 50s of the twentieth century and in ten years was able to increase it to current volumes. Today there is no active policy to increase the gold reserve; over the past 20 years, the volume of gold in the Central Bank of Germany has decreased by almost 10%.

In third and fourth place in terms of the volume of precious metal reserves in the world were also representatives of the EU - Italy with a volume of gold of 2,451.8 tons and France, whose national gold reserve is 2,436 tons. In the total reserves of these countries, gold occupies 65.8% and 59.3% respectively. Italy's gold reserves have remained stable since 1999. France has sold 588.6 tons of reserves since the beginning of the 2000s.

Russia is in fifth place in terms of official gold reserves in the world. Thus, according to the latest data, the volume of the gold reserve of the Central Bank of the Russian Federation is 1,970.1 tons. In the total volume of the country’s gold and foreign exchange reserves, this is only 17%.

Kazakhstan in terms of the number of confirmed and industrial reserves and production Kazakhstan ranks 14th in the world and 3rd in gold production after Russia and Uzbekistan among the CIS countries, reports the information site kapital.kz.

Gold is a protective instrument. Its main purpose as part of gold and foreign exchange reserves can be considered to ensure the stability of the country’s financial system, as well as balancing the asset portfolio to protect it from currency fluctuations

According to analysts of the National Bank of the Republic of Kazakhstan, the active policy of central banks to purchase assets in gold is associated with several reasons. Gold contributes to the diversification of the country's reserves, experts say. The yield of gold is weakly correlated with the dynamics of exchange rates, the yield of stock indices and the government securities market. Assets in gold are resistant to geopolitical risks, changes in currencies and exchange rate regimes on the world market. Thus, assets in gold act as an alternative to foreign currencies and securities, while they have zero credit risk, since they are not a liability...

Gold is the most important element of the global financial system, since this metal is not subject to corrosion, has many technical applications, and its reserves are small. Gold was practically not lost during historical cataclysms, but was only accumulated and melted down. Currently, the world's bank reserves of gold are estimated at 32 thousand tons (if you fuse all this gold together, you will get a cube with a side of only about 12 m). The declining role of gold as an international currency has been repeatedly emphasized, however, almost all banks in the world hold gold as a source of liquidity.

By purchasing metal marked 999, a person receives a material that is durable, wear-resistant and has excellent anti-corrosion properties.

A gold bar of this standard has no impurities and is a noble metal. Gold cannot be damaged by natural disasters such as floods, hurricanes, earthquakes and even fires (the melting point of gold is over 1000 degrees).

A program for the sale and redemption of measured refined gold bars for the population was launched by the National Bank of the Republic of Kazakhstan in 2021.

As part of the Program, gold bars are sold through second-tier banks - Halyk Bank of Kazakhstan, Eurasian Bank and Tsesnabank. The main factor in ensuring the liquidity of the gold bullion market is the possibility of their repurchase by second-tier banks with the payment of money to the client “day to day”.

Gold bars are available in five varieties: 5, 10, 20, 50 and 100 grams.

Each ingot is equipped with protective elements (the mirror surface of the ingots, microtext and a relief edge) and is produced in a special package that protects the ingots from mechanical damage and makes it easy to check whether the packaging has been opened or not.

Images on the front side of the bars:

In the upper part there is a figure of a deer, the inscriptions “Kazakhstan”, “Kazakhstan”.

In the center of the bar there are the inscriptions “ALTYN” and “GOLD” with the weight indicated in the upper part and the numbers 999.9 in the lower part, indicating the purity of the metal.

At the bottom there is the logo of the Kazakhstan Mint and the number of the bar.

Images on the reverse side of the bars:

At the top is the logo of the National Bank.

In the center is a stylized figure of a winged leopard.

ATTENTION! Protective packaging is a certificate of quality of the ingot. Careful storage is recommended. Do not open the package!

Measured refined gold bar weighing 5 grams

Weight: 5 gr. Width: 14.1 mm. Length: 24.2 mm. Metal: Gold. Sample: 999.9

Measured refined gold bar weighing 10 grams

Weight: 10 gr. Width: 15 mm. Length: 25.8 mm. Metal: Gold. Sample: 999.9

Measured refined gold bar weighing 20 grams

Weight: 20 gr. Width: 17.4 mm. Length: 30 mm. Metal: Gold. Sample: 999.9

Measured refined gold bar weighing 50 grams

Weight: 50 gr. Width: 22 mm. Length: 37.9 mm. Metal: Gold. Sample: 999.9

Measured refined gold bar weighing 100 grams

Weight: 100 gr. Width: 32 mm. Length: 55 mm. Metal: Gold. Sample: 999.9

Buying and exchanging silver

Workshops also buy silver in Almaty-Utah, where they will probably accept it for you at a good price. The price for one gram of silver is 170 rubles. But perhaps it can be priced cheaper. In any case, you can exchange silver in Almaty - Utah at a jewelry store, but you will have to pay extra, since old items will be valued less. You can sell it at a high price in the city only in workshops, as they evaluate the quality there. They also need a quality product, and they will not cheat.

Should Kazakhstanis buy gold bars - expert opinions September 28, 2021, 09:50

The National Bank of Kazakhstan plans to allow the purchase and sale of gold bars through exchange offices. The correspondent talked with experts and found out whether it is worth investing in gold.

Continuation

1. The National Bank hopes for a favorable situation in the tenge

2. Exchange offices in Kazakhstan will begin selling gold bars

As experts emphasize, gold as an investment instrument has its pros and cons. It can be a “safe haven” for saving money during fluctuating exchange rates, but it cannot be quickly sold.

“The most liquid investment is currency. You can sell or buy at any exchanger. But you won’t be able to sell the bullion quickly, it’s not easy. The sale is through the involvement of a special commission for evaluation,” said economist and doctor of business administration Erlan Ibrahim.

The second disadvantage of “private gold and foreign exchange reserves” is that they must be stored either in a safe deposit box or at home, in a safe and under seven locks. However, there are no guarantees that the investor will not lose his property. He could simply be robbed.

“You can’t put an ingot under your pillow. If you keep it at home, the safe security system should be very reliable. But even in this case, there is a possibility that robbers will sneak into the house, break open the “box” and take away the valuable precious metal. You can store it in a bank safe deposit box, but this is an additional cost for renting safe deposit boxes. This summer we lost several banks... It is clear that, most likely, your money will be safe in a financial institution, but there is a relative risk,” the expert believes.

The expert also spoke about the advantages of buying gold. According to a specialist, over the past five years, the maximum price for gold has risen to $1,300 per troy ounce (an international measure of the weight of a precious metal, equal to approximately 31 grams - author). The current price is $1,198-1,200 per ounce.

“The price of gold is quite stable. When there are difficulties, especially geopolitical ones, then gold is a “safe haven” from the point of view of large investments. They invest money in it to wait out unrest in the financial markets. If we talk about private money... Investment gold is gold in bars, it is soft. The purity and quality of the metal are high, and you can’t even touch it with your hands, as scratches may remain, which will reduce the cost of the bar,” Erlan Ibrahim expressed his opinion.

Jewelry, according to the economist, is more of a status than an investment. A diamond ring purchased for 10 thousand dollars, as noted, cannot be sold for the same amount. At best, the pawnshop will give you half the price.

“If you have 10-20 thousand dollars, then gold is not the best investment. If your savings amount to a hundred thousand dollars, then gold can be one of the investment tools. You can keep something in tenge, something in foreign currency, most likely you already have real estate,” said Erlan Ibrahim.

The expert also notes that deposits in foreign currency are low-yielding, while deposits in tenge are risky.

“Constant changes and fluctuations in the exchange rate have undermined faith in the national currency. Gold in the long term is unlikely to become cheaper, but only more expensive. As an investment for large companies, it can be a tool for capital accumulation. And private money is private money,” the economist concluded.

Ramazan Dosov, an expert at the analytical center of the Association of Financiers of Kazakhstan (AFK), believes that buying gold makes sense, since the investor most likely does not want to “put all his eggs in one basket”, but, on the contrary, is trying to invest in various instruments.

“At the same time, different investors will have different motives - some buy to hedge (insure) currency risks (since gold is traded in dollars), others - due to expectations of rising prices for precious metals.

While the relative ease of buying and selling gold bars is definitely an advantage of such investments, you also need to understand that the immediate difference between “entry” and “exit” (buying and immediately selling) will be at a loss, that is, you need to take into account the horizon of such investments. For example, the National Bank does not regulate the pricing process for its gold bars and sets prices based on world prices, leaving it to the banks themselves to determine the difference between the cost of purchase and sale. I would like to note that in September the cost of one gram of gold purchased from the National Bank of Kazakhstan is about 14 thousand tenge. Accordingly, a 10-gram ingot will cost approximately 140 thousand tenge,” noted Ramazan Dosov.

The expert has his own opinion regarding the liquidity of bullion. According to Dosov, selling gold will not be difficult for Kazakhstanis.

“To simplify transactions with physical gold, the National Bank of Kazakhstan has provided the opportunity to purchase measured bars in protective packaging. Thus, if the packaging is intact, the bullion bars can be sold in almost any bank as quickly as you bought them. No examination is required and the client does not lose either time or money in the form of paying a commission for the examination,” noted Ramazan Dosov.

Chairman of the National Bank of the Republic of Kazakhstan Daniyar Akishev reported on September 27 that since May 2021, banks have sold 175 kilograms of gold bullion. You can purchase bars weighing 10, 20, 50 and 100 grams.

We will deliver the most important news to your phone. Click here.

Price of gold and silver in Almaty

The table shows average prices for receiving precious metals and may differ from the price at each specific receiving point.

How not to lose money when buying gold in Kazakhstan

Illustrative photo: pixabay.com Sales of gold bars in 2021 reached record levels in Kazakhstan. However, investing in gold is not always profitable. Read more about the risks and losses associated with the purchase of precious metal in Nurfin's material.

Starting from 2021, Kazakhstanis can buy gold bars for themselves, which are issued by the National Bank of the country. They are sold in some second-tier banks and individual exchange offices.

For more than three years, Kazakhstanis have already bought 42,579 gold bars with a total weight of 1.57 tons.

And in 2021 alone, Kazakhstanis bought 21,099 measured ingots with a total weight of 890 kg. This is 34% more than in 2021, the National Bank website reports.

That is, in one crisis year, Kazakhstanis bought more than half of the total three-year volume.

This interest in gold is explained by the peculiarities of this investment instrument. However, you should be aware of the risks and disadvantages associated with buying gold.

Types of gold bars by weight. Source: National Bank of the Republic of Kazakhstan

How the price of gold has changed

According to FindHow.org, the cost of 1 gram of gold on January 21, 2021 was 24,963 tenge, adding 57.02 tenge per day.

In total, from December 21, 2021 to January 21, 2021, the gold rate in Kazakhstan fell from approximately 25,250 tenge to 24,963 tenge .

However, gold, including gold coins, is a long-term asset. That is, when buying gold bars or coins, you must be prepared to achieve benefits over time.

Thus, over the month, gold has fallen slightly in price, which may seem unprofitable for an investor. But over the course of one year (from January 22, 2020 to January 21, 2021), the cost of this precious metal increased by more than 31%.

Dynamics of gold growth against the tenge. Source: findhow.org

One gram of gold has risen in price from 18,900 tenge to almost 25,000 tenge in a year. And since the sale of gold bars in Kazakhstan, the cost of one gram has increased by approximately 102%: from 12,357 tenge in 2021 to 24,963 tenge .

Risks for the investor

However, we should not forget about the risks that exist to varying degrees in virtually all types of investments.

When buying gold, you should remember that you are investing this money for the long term. That is, these assets will become unavailable in the near future.

If you urgently need this money, you can sell the bullion during the day to banks or exchange offices. But you will lose on the difference in prices when selling and buying a gold bar.

For example, the bank’s selling rate for 1 gram of gold is 25,000 tenge . But when buying a bullion from you, the bank will pay less - for example, 24,000 tenge .

You could also lose money if the gold price goes down. As the chart of gold prices over the last 30 days shows, the risk of a decline in value is always present.

Gold price for the last 30 days. Source: findhow.org

Therefore, you need to invest in gold the money that may not be needed in the near future.

You should also remember the storage rules - each ingot is produced with protective elements (the mirror surface of the ingots, microtext and a relief edge) and in special packaging.

If this packaging is damaged, the value will be greatly reduced. Therefore, gold must be stored in a safe place or in a safe deposit box. However, in this case there will be maintenance costs.

Therefore, when choosing a way to invest and store your savings, you should consider all the pros and cons.

Which investment option is most optimal depends on the investor’s personal risk tolerance.

Original article: https://www.nur.kz/nurfin/stock/1894924-kak-ne-poterat-dengi-pri-pokupke-zolota-v-kazahstane/