According to South Korean media MoneyToday, according to a report submitted by the Bank of Korea to members of the ruling party, the Bank of Korea will buy about 1 ton of domestic gold in December, worth 200 billion won. This is the bank's first physical gold purchase in 13 years. The Bank of Korea will conduct its first transaction on December 14 after establishing the system required for domestic gold trading. The Bank of Korea began indirect gold investment by purchasing a $250 million gold ETF in the second quarter of this year. The Bank of Korea is probably buying gold that domestic producers originally planned to export, which allows the central bank to pay in Korean won without using foreign exchange. By the end of August, the central bank held 104.4 tons of physical gold, worth US$14.88 billion at market prices, accounting for 3.4% of its foreign exchange reserves.

According to South Korean media MoneyToday, according to a report submitted by the Bank of Korea to members of the ruling party, the Bank of Korea will buy about 1 ton of domestic gold in December, worth 200 billion won. This is the bank's first physical gold purchase in 13 years. The Bank of Korea will conduct its first transaction on December 14 after establishing the system required for domestic gold trading. The Bank of Korea began indirect gold investment by purchasing a $250 million gold ETF in the second quarter of this year. The Bank of Korea is probably buying gold that domestic producers originally planned to export, which allows the central bank to pay in Korean won without using foreign exchange. By the end of August, the central bank held 104.4 tons of physical gold, worth US$14.88 billion at market prices, accounting for 3.4% of its foreign exchange reserves.