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 recently made its first gold investment in 13 years, acquiring over $250 million worth of a gold exchange-traded fund (ETF) on the U.S. stock market. In a filing with the U.S. Securities and Exchange Commission (SEC), the BOK disclosed its holdings of 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 offer investors exposure to gold by tracking changes in the price of the precious metal, allowing them to benefit from gold price movements without owning the physical asset. This marks the first time since 2013 that the Korean central bank has invested in gold, previously purchasing 20 tons of the metal during that year.
The BOK did not provide details on the exact timing of the ETF purchase, but it was not included in the filing at the end of the first quarter. SPDR Gold Trust was trading at around $400, rebounding from the $360 level observed last month.
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