Bank of Korea To Buy 1 Ton Of Gold In First Purchase Since 2013
Add South Korea to the list of countries taking tentative steps to hedge their exposure to the US dollar, and fiat in general.
The Bank of Korea will buy approximately one ton of domestically produced gold in December, worth 200 billion won, according to the office of Rep. Chung Tae-ho of the Democratic Party of Korea, a member of the National Assembly’s Strategy and Finance Committee, on the 30th.
The move, which follows indirect investment through ETFs in the second quarter, signals a more active push into gold and marks the central bank’s first physical gold purchase in 13 years. The first transaction is scheduled for December 14, after the bank establishes the system needed for domestic gold trading
https://www.zerohedge.com/precious-metals/south-korea-buy-1-ton-gold-first-purchase-2013
And in the spirit of do what they do, not what they say, what should you do?
Do you think all of these CB’s are buying gold on a whim? The price is what they say, (don’t buy it, it’s going down, buy all the Ai hype stocks!), the buying of gold is what they are doing.
Painful point in the maze right now as they are distracting everyone by putting great smelling and tasting cheezes at points in the maze that go nowhere. If you want to get out of the maze, you know what to do.