South Korea follows through on gold purchase plans

gold4

South Korea bought $1.24 billion worth of gold in July, bringing the country's total gold reserve to a value of $1.32 billion.

The move comes nine months after the Bank of Korea governor, Kim Choongsoo, hinted that the central bank was considering expanding the share of gold in its reserves.

"This is a very significant step," said George Milling-Stanley, the managing director of government affairs at the World Gold Council. "They have bought very small quantities from time to time over the last

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.