Bank of Korea Buys Gold After 13-Year Absence

The Bank of Korea (BOK) is planning to purchase physical gold for the first time in 13 years, marking a significant shift in their strategy. The central bank aims to acquire domestically produced gold, leveraging the infrastructure of the Korea Exchange and Korea Securities Depository.

This move is part of a broader strategy for managing foreign reserves and minimizing potential market disruptions. The BOK has maintained stable gold reserves of approximately 104.4 tonnes since 2013.

The decision could be indicative of a diversification strategy within South Korea's reserve assets, potentially impacting the global gold market.