Key facts
- The Bank of Korea holds over $250 million in a U.S. gold ETF.
- This is the Bank of Korea's first gold investment in 13 years.
- The central bank purchased 679,765 shares of the SPDR Gold Trust.
- The value of the shares was $250.4 million at the end of the second quarter.
- The investment is in a U.S.-based gold ETF.
The Bank of Korea has disclosed a significant investment in gold, holding over $250 million in a U.S. gold exchange-traded fund (ETF). This marks the central bank's first investment in gold in 13 years, signaling a notable shift in its reserve management strategy. The bank purchased a total of 679,765 shares of the SPDR Gold Trust. As of the end of the second quarter, these shares were valued at $250.4 million. This investment represents a return to gold for the Bank of Korea after a considerable period without direct gold holdings. The specific details of the purchase and the strategic rationale behind re-entering the gold market after such a long interval are not further elaborated in the provided information.