The Bank of Mongolia precious metals purchases reached 690.1 kilograms in August. This brings the total volume acquired since January to 7.7 tonnes. Compared to the same period last year, this represents a 24.1 percent decrease. The decline reflects global market trends and changes in local production.
Meanwhile, the Bank of Mongolia precious metals purchases varied across regions. The Darkhan-Uul branch acquired 494 kilograms, whereas the Bayankhongor branch purchased 1,138.7 kilograms. These numbers highlight the differences in local supply and mining output. The bank sets its purchase prices according to international market rates, ensuring fairness and consistency.
In August, the average gold purchase price reached MNT 387,000 per gram. This price reflects fluctuations in the global gold market. Consequently, both domestic and international investors can monitor trends accurately. By maintaining competitive pricing, the bank encourages local producers to sell gold while strengthening national reserves.
Moreover, the Bank of Mongolia uses these purchases to stabilize the economy. Buying precious metals supports financial reserves and helps protect the local currency against global market changes. The acquisitions also serve as a strategic tool for maintaining economic balance during periods of uncertainty.
Additionally, regional differences in production affect procurement strategies. Darkhan-Uul recorded moderate activity, while Bayankhongor produced larger volumes. Consequently, the bank adjusts its purchasing plans to match local outputs. These adjustments ensure the efficient use of resources while preventing oversupply or shortages in the market.
Experts emphasize that monitoring precious metal purchases is essential. Fluctuations in supply or pricing can influence monetary policy and economic stability. Furthermore, transparency in transactions builds trust among investors and domestic producers. It also signals Mongolia’s commitment to fair and regulated financial practices.
In summary, the Bank of Mongolia precious metals purchases continue steadily despite year-on-year declines. Regional variations, global pricing, and strategic acquisitions define the bank’s approach. Through these measures, the central bank aims to strengthen national reserves and support long-term economic growth.
