South Korea Central Bank Buys Gold ETFs for First Time in 13 Years

Bank of Korea acquired $250M in SPDR Gold Shares, marking first gold-linked asset purchase since 2013 to hedge geopolitical risks.

Woofun AI reports that the Bank of Korea purchased gold-related assets for the first time in 13 years to mitigate geopolitical and economic uncertainties. SEC filings reveal the central bank held 679,765 shares of SPDR Gold Shares, valued at approximately $250 million, by the end of the second quarter, having held none three months prior. This marks the first acquisition of gold-linked assets since 2013. The bank clarified that these ETF holdings are classified as securities within foreign reserves and do not augment official gold reserves. Hanwha Investment & Securities economist Choi Kyuho noted that the bank's gold allocation remains low relative to global standards, suggesting potential for gradual increases in future holdings.