Gold Demand in Korea Set to Climb, Exchange Operator Predicts
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Gold demand in South Korea is set to increase as consumers buy more bars and boost investments as currencies weaken, according to Korea Exchange Inc., which expects increased trading in its so-called mini futures contract.
“Koreans have more interest in gold than other commodities, regarding it as an investment tool,” Kim In Soo, an executive director at the operator of equities and futures markets, said in an interview yesterday. Korea Exchange is set to start a spot market for bullion in 2012, Kim said, confirming an earlier plan.