Korea Joins Russia, Kazakhstan in Boosting Gold Holdings

Korea Joins Russia, Kazakhstan in Boosting Gold Holdings

SeongJoon Cho/Bloomberg

The Bank of Korea headquarters, center, stands in Seoul. “The Bank of Korea’s gold buying is part of the long-term diversification of currencies and assets in foreign-exchange reserves,” it said in the statement. “It is of no great importance to try to gauge if it’s profitable or not based on short-term price swings.”