BoM’s gross purchases of precious metals totaled 14.8 tons

Date: 2020/09/01

In August 2020, the Bank of Mongolia purchased 1.7 tons of precious metals, and its gross purchases totaled 14.8 tons in 2020.  This is an increase of 5 tons from the same period of the previous year. Out of 14.8 tons of precious metals, 13.1 tons were gold and 1.7 tons were white silver.

Darkhan-uul regional division purchased 87.8 kg and Bayakhongor regional branch purchased 209.7 kg precious metals in August 2020. In the year of 2020, regional precious metals purchases totaled 1,1 tons.

Monthly average gold price was 180,096.17MNT per gram.  

Chart 1. Monthly precious metals purchases of BoM (kg) 2018-2020

Chart 2. Annual gross purchases of precious metals from 1990 (tons)

Chart 3. Average gold price in August of BoM (MNT per gram)