Korea "might consider diversifying Gold storage sites out of England for Safety"

The Bank of Korea holds 104.4 tonnes of gold in its foreign exchange reserves, or $4.8 billion, which account for 1.14% of its total $421 billion in reserves as of the end of May.

Jun 06, 2023

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ReutersJune 5, 202311:14 PM

SEOUL, June 6 (Reuters) - The Bank of Korea (BOK) assesses it is more desirable to maintain its dollar liquidity than to increase gold holdings for foreign exchange reserves at this point, the central bank said.

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Korea "might consider diversifying Gold storage sites out of England for Safety"

The Bank of Korea holds 104.4 tonnes of gold in its foreign exchange reserves, or $4.8 billion, which account for 1.14% of its total $421 billion in reserves as of the end of May.

Bank of Korea: less desirable to increase gold holdings at this point

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