{"id":1115,"date":"2026-08-05T11:18:05","date_gmt":"2026-08-05T11:18:05","guid":{"rendered":"https:\/\/goontrading.com\/en\/bank-of-korea-starts-long-term-domestic-gold-buying-program\/"},"modified":"2026-08-05T11:18:05","modified_gmt":"2026-08-05T11:18:05","slug":"bank-of-korea-starts-long-term-domestic-gold-buying-program","status":"publish","type":"post","link":"https:\/\/goontrading.com\/en\/bank-of-korea-starts-long-term-domestic-gold-buying-program\/","title":{"rendered":"Bank of Korea starts long-term domestic gold buying program"},"content":{"rendered":"

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(Kitco News) – Central bank gold demand has provided critical support for gold, and according to some analysts, it is a key reason why prices have been able to hold support at $4,000 an ounce.<\/p>\n

As demand picked up during the second quarter, there is no indication that the trend is reversing as more central banks join the buying.<\/p>\n

South Korea is the latest nation to announce an increase in its official reserves, buying gold for the first time since 2013. However, the Bank of Korea has taken a slightly different approach.<\/p>\n

On Monday, Jeong Hee-sup, head of the Bank of Korea’s Reserve Management Group, said that the central bank has started buying spot gold exchange-traded products.<\/p>\n

Along with its ETF purchases, the central bank said it has also established a framework to purchase domestically produced gold in the near future.<\/p>\n

“With geopolitical risks becoming a persistent feature of the global environment, interest in gold as a safe-haven asset has grown significantly among central banks,” Jeong said.<\/p>\n

Under the announced framework, the central bank will purchase domestically produced gold through a cooperative system involving the Korea Exchange, the Korea Securities Depository, and domestic gold producer LS MnM. Korea Zinc is also expected to supply eligible gold.<\/p>\n

According to reports, LS MnM and Korea Zinc produce an estimated 4 to 5 metric tons of gold annually for export. The Bank of Korea plans to purchase part of that output when market and reserve management conditions are favorable.<\/p>\n

Jeong also said that the central bank’s gold purchases are part of a long-term strategy.<\/p>\n

“We do not plan to make a large purchase all at once,” Jeong said. “We intend to gradually increase the share of gold according to medium- and long-term needs.”<\/p>\n

Korea’s gold purchases do not come as a huge surprise, as the central bank has been signaling its plans for several months.<\/p>\n

\u201cGiven gold’s role as an inflation hedge and its potential as an alternative to the U.S. dollar, it’s evident that gold should be considered one of the viable assets from a medium- to long-term perspective,\u201d Jeong said during a central bank panel discussion at the London Bullion Market Association\u2019s annual precious metals conference.<\/p>\n<\/div>\n

Kitco.com<\/p>\n","protected":false},"excerpt":{"rendered":"

\u26a1 Trade with Ultra-Low Spreads on IC Markets! \u2794 [Link] \ud83c\udf81 Get Your Exclusive XM Deposit Bonus Now! \u2794 [Link] \ud83d\udca1 Master the Markets with FXTM Copy Trading \u2794 [Link] (Kitco News) – Central bank gold demand has provided critical support for gold, and according to some analysts, it is a key reason why prices …<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[40],"tags":[],"class_list":["post-1115","post","type-post","status-publish","format-standard","","category-gold-commodities-trade-news"],"_links":{"self":[{"href":"https:\/\/goontrading.com\/en\/wp-json\/wp\/v2\/posts\/1115","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goontrading.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goontrading.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goontrading.com\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/goontrading.com\/en\/wp-json\/wp\/v2\/comments?post=1115"}],"version-history":[{"count":0,"href":"https:\/\/goontrading.com\/en\/wp-json\/wp\/v2\/posts\/1115\/revisions"}],"wp:attachment":[{"href":"https:\/\/goontrading.com\/en\/wp-json\/wp\/v2\/media?parent=1115"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goontrading.com\/en\/wp-json\/wp\/v2\/categories?post=1115"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goontrading.com\/en\/wp-json\/wp\/v2\/tags?post=1115"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}