Korea accumulating gold

The central banks of South Korea, Russia and Kazakhstan have all reported additions to their gold reserves this year, continuing the trend of central bank gold buying. Data for January show that Russia and Kazakhstan have each increased gold purchases for the fourth consecutive month. The Bank of Korea issued a statement saying that it has purchased 20 metric tons of gold - more than 643,000 troy ounces - during February, increasing its gold reserves by 24% to 104.4 metric tons.