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Tuesday, 21st July 2009 (820 views)

Consumers in Kazakhstan may soon be able to buy gold from a wider variety of sources as a result of new laws that could come into effect soon, it has been suggested.

Currently, citizens can only trade gold at national and commercial banks within the country, while gold can only be sold to a financial institution at a set price.

However, Timur Omarov of the Regional Financial Centre of Almaty told CaspioNET that this is likely to change in the near future through new rules and laws.

"We believe that the introduction of these amendments will allow for the development of the precious metals market and gold market," he remarked.

According to the Interfax-Kazakhstan news agency, the country's gold production increased by 26.9 per cent in the first six months of this year.

Russia also saw a 17.7 per cent rise in gold output during the same period, the figures showed.

 

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