Mongolbank purchases 734 kg gold in March

The Bank of Mongolia purchased 734 kg gold in March, it reported on April 2.

As such, the bank has purchased 2.3 tons of gold in the first three months of 2018, which shows 2.1 percent increase against the same period of last year.

As of the third month of 2018, the central bank’s average gold purchase rate was MNT 101,822.3 per gramm.

According to officials, the comparatively less amount of gold sold to the central bank in the first season of this year is linked to the fact that placer deposits have not yet started their operations and only hard rock deposits are running.

Gold mining reaches its peak of activity in August, September and October.

Source: Bank of Mongolia

April 4, 2018
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