Central Bank of Mongolia purchases 6.1 tons of gold in five months

Wed June 05 2024

The Central Bank of Mongolia purchased 6.1 tons of gold from prospectors and mining enterprises in five months of 2024, the Bank's press service said on Tuesday. The Bank's gold purchase rate was $75.3 per gram as of May, which corresponds to the low rate on the London Metal Exchange, an official statement said.

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 country's gold and foreign exchange reserves amounted to $5.183 billion by the end of May 2024.

Source: https://akipress.com/