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Real gold or paper gold? And who has actual custody
of it? Nobody's asking so the central bank isn't telling. So much for
financial journalism.
* * *
By Christine Kim
Reuters
Thursday, August 2, 2012
SEOUL, South Korea -- South Korea's central bank
said today it bought 16 tonnes of gold in July as
easing financial markets after a turbulent June allowed it to push
ahead with efforts to diversify its massive foreign exchange reserves.
It put the total value of the purchase, which was
made on multiple occasions during July and boosted its gold holdings to 70.4 tonnes, at $810 million, slightly less than $850 million
it spent buying 15 tonnes of gold in November last
year.
"The markets were stable in July and we judged
the conditions were good for us to make the purchase then," said Lee
Jung, head of the Investment Strategy Team at the Bank of Korea's Reserve
Investment Division.
Read the rest of the article here
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