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South Korea's Central Bank to Buy One Ton of Gold in December
Original: South Korea's Central Bank Will Purchase 1 Ton of Gold in December.
The Bank of Korea plans to purchase one ton of gold in December, according to reports circulating in global financial media. The move would add to the central bank's gold reserves at a time when many monetary authorities worldwide have been steadily increasing their bullion holdings. Details on the price, financing, or the bank's broader reserve strategy have not been disclosed.
Why now: Central bank gold purchases are drawing attention amid ongoing global demand for bullion as a reserve asset.
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