{"id":843,"date":"2012-12-06T10:49:35","date_gmt":"2012-12-05T23:49:35","guid":{"rendered":"http:\/\/www.australian-gold.com\/blog\/the-bank-of-korea-increased-gold-reserves-20-last-month-gold-a-safe-asset\/"},"modified":"2012-12-06T10:49:35","modified_gmt":"2012-12-05T23:49:35","slug":"the-bank-of-korea-increased-gold-reserves-20-last-month-gold-a-safe-asset","status":"publish","type":"post","link":"https:\/\/www.australian-gold.com\/blog\/the-bank-of-korea-increased-gold-reserves-20-last-month-gold-a-safe-asset\/","title":{"rendered":"The Bank of Korea increased gold reserves 20% last month &#8211; Gold a &quot;SAFE ASSET&quot;"},"content":{"rendered":"<p>The Bank of Korea increased gold reserves 20% last month to diversify investments, boosting holdings for the fourth time since June 2011 and underscoring increased demand by central banks according to Bloomberg.<\/p>\n<p>The bank added 14 metric tons in November, bringing the total to 84.4 tons, the bank said in a statement today. By value, holdings increased about $780 million to $3.76 billion, equivalent to 1.2% of total reserves, the bank said.<\/p>\n<p><strong><em>\u201cGold is a physical, safe asset,\u201d<\/em><\/strong> the Bank of Korea said in the statement. The precious metal \u201cis a way of diversification, which helps reduce investment risk in terms of foreign-exchange reserves management,\u201d it said.<\/p>\n<p>The Bank of Korea bought 16 tons in July, 15 tons in November 2011 a further 25 tons over a one-month period from June to July last year.<\/p>\n<p>*Post courtesy of Mark O&#8217;Byrne at GoldCore. His daily \u2018Market Updates\u2019 are quoted and reported on in the international financial press on a daily basis. <a href=\"http:\/\/www.goldcore.com\/\">Read more at Gold Core<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Bank of Korea increased gold reserves 20% last month to diversify investments, boosting holdings for the fourth time since June 2011 and underscoring increased demand by central banks according to Bloomberg. The bank added 14 metric tons in November, bringing the total to 84.4 tons, the bank said in a statement today. By value, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-843","post","type-post","status-publish","format-standard","hentry","category-gold-blog"],"_links":{"self":[{"href":"https:\/\/www.australian-gold.com\/blog\/wp-json\/wp\/v2\/posts\/843","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.australian-gold.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.australian-gold.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.australian-gold.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.australian-gold.com\/blog\/wp-json\/wp\/v2\/comments?post=843"}],"version-history":[{"count":0,"href":"https:\/\/www.australian-gold.com\/blog\/wp-json\/wp\/v2\/posts\/843\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.australian-gold.com\/blog\/wp-json\/wp\/v2\/media?parent=843"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.australian-gold.com\/blog\/wp-json\/wp\/v2\/categories?post=843"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.australian-gold.com\/blog\/wp-json\/wp\/v2\/tags?post=843"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}