As of April 1, Mongol Bank’s gold purchase price has reached 349,069 MNT per gram, reflecting a steady increase over the past year. This trend aligns with the ongoing rise in gold and copper prices on the global market, influenced by recent U.S. trade policies.
The country’s copper concentrate sales have also seen an upward trend, with an average price of 1,721 USD per ton in 2023, increasing to 1,957 USD per ton in 2024. Experts attribute this price surge to the economic policies of U.S. President Donald Trump, particularly his decision to raise import taxes as part of efforts to reduce the US trade deficit.
Investors, responding to global economic uncertainty, have shifted their focus toward gold as a safe-haven asset. The financial sector often echoes the saying, “People who are afraid buy gold,” underscoring the metal’s reputation as a stable investment during periods of economic volatility and rising inflation.
“Gold prices have increased by 17 percent since the beginning of the year. Gold is becoming a safe investment vehicle due to increasing political and economic instability and inflation risks,” said a spokesperson from Apex Capital LLC.
Mongolia has attempted to capitalize on the favorable market conditions, though gold mining outputs fell slightly short of projections. The country planned to mine 18 tons of gold last year but managed 16.5 tons. Despite this, gold revenues significantly contributed to the national budget, generating 311 billion MNT in 2023 and 375 billion MNT in 2024.
Meanwhile, copper has proven to be an even greater economic driver, contributing 2.2 trillion MNT to the state budget in 2023 and increasing to 2.3 trillion MNT in 2024. With global market prices continuing to rise, Mongolia stands to benefit further from its resource exports, reinforcing its role as a key player in the international commodities market.

Published Date:2025-04-02