Kazakhstan Plans to Cut Gold Reserve Share to 75% by Year-End

Kazakhstan’s central bank plans to reduce gold’s share of its foreign-exchange reserves to 75% by year-end, as higher U.S. Treasury yields prompt a reassessment of dollar assets. Gold currently represents about 78% of Kazakhstan’s reserves. The planned reduction would shift the central bank toward selling part of its gold holdings as it adjusts the mix of reserve assets. Higher Treasury yields have made dollar assets more appealing and are prompting Kazakhstan to reassess its allocation between gold and dollar assets.

Source: TokenPost