Korea boosts gold holdings by 20%

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The Bank of Korea bought $780 million of gold in November, it revealed today (December 5). The purchase brings the value of its gold holdings to $3.76 billion, the central bank says, equivalent to 1.2% of its reserves. The central bank did not reveal the amount of gold purchased, but at today's London pm fix the sum would have landed 14.3 tonnes. The most recent figures from the World Gold Council (WGC) gave Korea's total gold reserves as 70.4 tonnes. Today's acquisition pushes the total to 8