BOK Reenters Gold Market After 13-Year Absence

The Bank of Korea (BOK) has resumed buying gold through exchange-traded funds (ETFs), marking its first investment in the precious metal in 13 years.

This move is part of efforts to diversify the country's foreign exchange reserves and reduce reliance on U.S. dollar-denominated assets.

As of June, gold accounted for $4.79 billion, or 1.1 percent, of the BOK's $427.36 billion in foreign exchange reserves.

The BOK currently holds 104.4 metric tons of gold, all stored at the Bank of England.