BOK holds $250 mil. in US gold ETF, 1st gold investment in 13 yrs
The Bank of Korea (BOK) said Thursday that it holds more than $250 million worth of a gold exchange-traded fund (ETF) traded on the U.S. stock market, marking its first investment in gold in 13 years. In a filing with the U.S. Securities and Exchange Commission (SEC), the BOK said it held 679,765 shares of SPDR Gold Trust, one of the most widely traded gold ETFs in the United States, worth $250.4…
The Bank of Korea (BOK) has made its first gold investment in 13 years, acquiring over $250 million worth of a U.S. gold exchange-traded fund (ETF) in a recent filing with the U.S. Securities and Exchange Commission (SEC). The BOK holds 679,765 shares of SPDR Gold Trust, one of the most widely traded gold ETFs in the United States, valued at $250.4 million as of the end of the second quarter.
Gold ETFs allow investors to gain exposure to gold prices without owning the physical asset. This marks a shift in the BOK's stance on gold investments, which had been absent since 2013 when the bank purchased 20 tons of gold.
Brief written by urgent.news from The Korea Times's own syndicated text. Machine-written — it may contain errors, so check the original before relying on it.
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