The Central Bank of Mongolia or Mongolbank purchased 1.6 tons of gold in January. This represents that the amount of precious metal purchase increased by 312 kg compared with the same period of the previous year.

In January, the BoM branches in Darkhan-Uul and Bayankhongor provinces bought 48.5 kg and 64.1 kg of precious metals respectively.

The average price of BoM’s purchase of 1 gram of gold was MNT 166,244.8 last month.

Gold Reserves in Mongolia averaged 4.89 Tonnes from 2000 until 2021, reaching an all time high of 23.40 Tonnes in the first quarter of 2020 and a record low of 0 Tonnes in the fourth quarter of 2005.