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Mongolia Expands its Gold Reserves

According to this article by Bloomberg Mongolia joined the "gold buyer's club": the Asian country expanded its gold holdings from 1.5 metric tonnes to 5.8 tonnes this year. The purchase is the largest since August 2008.

Considering the small population of Mongolia (just under 3.2 million people), the 5.8 ton reserve is substantial.

Similary, Kazakhstan and Azerbaijan bought more gold during the past year. While Canada and Mexico have sold 0.1 tonnes each.

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