GOLD NEWS

Central Bank of Mongolia purchases 3.4 tons of gold in January-March 2024

Wed April 03 2024

The MongolBank (Central Bank of Mongolia) purchased 3.4 tons of gold in January-March 2024.  The purchase of gold is one of the key instruments of the Central Bank of Mongolia, aimed at increasing the country's gold and foreign exchange reserves.

The Central Bank's gold buying rate was $69.1 per gram as of March, which corresponds to the low rate on the London Metal Exchange. According to the Central Bank of Mongolia, the country's gold and foreign exchange reserves amount to $5.2 billion.

The Bank purchased 17.8 tons of gold in 2023.

Source: https://akipress.com/