Mongolia bank buys 18.9 tons of gold

The Bank of Mongolia, the nation’s central bank, has purchased 18.9 metric tons of gold from legal entities and individuals in the first 11 months of this year, the same as last year’s figure during the same period. As of November, the bank’s average gold purchase price was 100,995.34 Mongolian tugriks ($38) per gram. The bank, which bought 20.01 tons of gold last year, has set a goal to buy 22 tons of gold by the end of this year. But it is expected that the bank will fail to achieve its goal because the threemonth peak season for gold mining ended in October, analysts said.