Ulaanbaatar
Central bank buys 12.8 ton gold this year
EconomyUlaanbaatar /MONTSAME/ The Bank of Mongolia (BoM) reports that it accumulated a total of 12.8 tons of gold in the first ten months of 2015. The amount of gold increased 19.9 percent compared to the same period of 2014.
Since the beginning of the third quarter, the gold buying has intensified, the Bank is buying 2.6-2.7 tons of gold a month. As the amount of gold held in the Central bank increases, the official foreign exchange reserve also goes up.
According to the General Customs Authority, Mongolia this year exported 9.5 tons of unprocessed and semi-processed gold of USD 356.6 million to the Swiss Federation and the United Kingdom, by the end of last October. This has shown increases in the amount as well as in the value of exported gold compared to the same period of 2014.
