South Korea to resume gold buying and may vault domestically
BoK’s reserves head cites geopolitical risks as motivator for institutional gold purchasing
The Bank of Korea plans to purchase gold for the first time in 13 years and has said it plans to diversify its storage locations.
A South Korean news report on August 3 stated that the purchases would be made domestically from gold that otherwise would have been destined for export. A BoK spokesperson told Central Banking today (August 4) that the plan is in its very early stages and that no decisions had been made regarding the timing or size of potential purchases.
“With geopolitical risks
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