After 13 years, the central bank of South Korea has returned to buying gold. This is a choice dictated by the desire to diversify reserves and protect ourselves from market volatility. The last purchase of gold dates back to 1998, during the Asian financial crisis. An official statement explains that the bank purchased 25 tons of ingots between June and July, thus increasing its total gold reserves to 39,4 tons. However, it was not clarified whether South Korea will continue to purchase gold or whether today was an isolated case. Today gold reached a new all-time high at 1.643 dollars an ounce, while prices have risen by 7% since the beginning of 2011.
http://www.todayonline.com/Business/EDC110802-0000422/Bank-of-Korea-buys-gold-for-first-time-in-13-years
