Mongolia’s c.bank acquires 10.3 tons of gold in 8m

The Bank of Mongolia announced on Thursday that it purchased a total of 10.3 tons of gold from legal entities and individuals during the first eight months of 2024. This represents a slight decrease of 1.6 per cent compared to the same period in 2023.

The average price of gold purchased by the central bank during this period was 267,835.69 Mongolian tugriks ($79) per gram.

As of August, Mongolia’s foreign exchange reserves stood at $4.7 billion, a 19.6 per cent increase compared to the same period last year.

Attribution: Xinhua

Subediting: Y.Yasser