Bank of Korea Set to Buy Gold from Domestic Producers in December

The Bank of Korea plans to purchase gold from domestic producers in December, marking its first such move since 2013.

In August, the central bank announced it would buy gold intended for exports at contract prices to support its management of foreign exchange reserves.

The transaction system for purchases from local producers is expected to be ready by December 14, with around 1 metric ton of gold potentially available by then.