The Bank of Korea has resumed its gold purchases after a 13-year hiatus, utilizing exchange-traded funds (ETFs) for its initial investments. The central bank also aims to expand domestic channels for acquiring physical gold, with plans for continued accumulation in the medium to long term. As of June 2024, the Bank of Korea's gold reserves were valued at $4.79 billion, representing 1.1% of its total foreign exchange reserves of $427.36 billion, with all 104.4 tons of gold held at the Bank of England. AI
RANK_REASON Significant financial move by a central bank. [lever_c_demoted from significant: ic=1 ai=0.0]
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