BOK Invests $250 Million in Gold ETF After 13-Year Drought

The Bank of Korea (BOK) has made its first gold investment in 13 years, holding over $250 million worth of the SPDR Gold Trust ETF. This marks a significant move for the Korean central bank, which has been diversifying its reserves to mitigate geopolitical and inflation risks.

According to a filing with the U.S. Securities and Exchange Commission (SEC), the BOK holds 679,765 shares of the SPDR Gold Trust, valued at $250.4 million as of the end of the second quarter.

The BOK did not disclose when it purchased the ETF, but this new holding was not included in its first-quarter filing. The price of gold has been rebounding, trading around $400 per ounce after reaching a low of $360 last month.