Bank of Mongolia’s gold reserves surge by 12.3 tons

Bank of Mongolia, Mongolbank, acquired 2,023.6 kilograms of precious metals in September 2024, increasing its holdings by 12.3 tons since the beginning of the year, according to its latest report.

However, the total purchases for the first nine months of 2024 were 7.9 per cent lower than the same period in 2023.

The purchase prices for precious metals were aligned with global market rates. The average price for buying gold in September 2024 was 278,226.21 Mongolian Tugriks (MNT).

Attribution: Bank of Mongolia report

Subediting: M. S. Salama