Bank of Korea reveals July gold purchase

The Bank of Korea today (August 2) announced it had purchased $810 million worth of gold in July. "Korea's official foreign reserves as of the end of July 2012 amounted to $314.35 billion, an increase of $1.97 billion from $312.38 billion at the end of the preceding month," a statement from the central bank said.

The gain was for the most part attributed to operating profits on the reserves. However, the purchase of the precious metal was also revealed.

As of the end of July 2012, the central ba