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Home News MONGOLIA’S GOLD PURCHASE SURGES AMID CORONAVIRUS LOCKDOWN

MONGOLIA’S GOLD PURCHASE SURGES AMID CORONAVIRUS LOCKDOWN

The Central Bank of Mongolia or Mongol Bank purchased 1.4 tonnes of precious metals from individuals and enterprises in April. The Bank’s purchase has reached 6.7 tonnes of precious metals; 5.0 tonnes being of gold since 1 January. This represents an increase of 66 percent or 4.4 tonnes from previous year.

The average gold price announced by the Central Bank of Mongolia reached MNT 149,986.18 per gram.

Mongolia closed borders with Russia and China in early March in order to prevent the coronavirus pandemic.

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Source: https://news.mn/en/792196/

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