Bank of Korea Mulls Gold Purchases After 12-Year Pause

South Korea's central bank is contemplating resuming gold purchases, a move not seen since 2013, due to deteriorating macroeconomic conditions, accelerating inflation, and weakening currencies. The Bank of Korea currently holds 104.4 tons of gold, ranking 41st globally. An official confirmed they plan to consider additional purchases from a medium- to long-term perspective, contingent on market conditions, reserve evolution, and the Korean won's direction. This potential shift occurs while global central banks are significantly increasing gold accumulation, with central banks holding more gold than US Treasuries for the first time since the mid-1990s. Despite recent gold price volatility, which saw a record high followed by a sharp correction, market experts remain optimistic, viewing the price dip as a buying opportunity.

(Source：BeInCrypto)