GOLD PURCHASING DECLINES BY 24 PERCENT

As of first eleven months of 2019, the gold purchase of the Bank of Mongolia (BoM) was 14.4 tons, which means the amount of gold purchase decreased by 4.5 tons or 24 percent compared with the same period of previous year.

In November, 2019 the BoM purchased 1.5 tons of gold in total, of which BoM branches in Darkhan-Uul and Bayankhongor aimags bought 11.3 kg and 19.4 kg respectively. The figure represents an increase of 0.3 tons as compared to the same period of previous year. The average value of BoM’s purchase of 1 gram of gold was MNT 128,002.45 in November, 2019.