The Bank of Korea plans to buy 1 ton of domestically produced gold in December, according to a report by South Korean media outlet MoneyToday cited by BlockBeats on Sept. 30. The purchase would mark the central bank’s first acquisition of physical gold in 13 years. The report adds that the Bank of Korea had already disclosed in August that it bought a gold ETF, its first investment in a gold-related asset in 13 years. The latest move points to a return to direct physical gold purchases after more than a decade, while also following the bank’s earlier re-entry into gold exposure through an exchange-traded fund.
South Korea’s central bank will buy 1 ton of domestically produced gold in December, according to a MoneyToday report cited by BlockBeats on Sept. 30.
The purchase would be the Bank of Korea’s first acquisition of physical gold in 13 years.
The Bank of Korea had previously disclosed in August that it bought a gold ETF, marking its first investment in a gold asset in 13 years.
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