Mon­go­lia bank buys 18.9 tons of gold

China Daily (USA) - - BUSINESS -

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.

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