Bank of Korea Gold ETF Losses Reach $23.9 Million
The Bank of Korea's third-quarter gold ETF purchases lost approximately $23.9 million in value as precious metal prices slumped.
Update (Nov 15, 04:41 UTC): According to Chosunbiz, the central bank also increased its U.S. ETF holdings alongside its gold purchases, even as gold valuation declined.
The Bank of Korea has seen its third-quarter gold exchange-traded fund holdings decline in value by approximately $23.9 million, according to BigGo Finance. The loss follows a broader downward trend and slump in global gold prices.
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Central bank reserve management and institutional allocations into exchange-traded commodities have faced headwinds amid recent market adjustments across precious metals.
Key facts
- Asset: Gold exchange-traded funds
- Institution: Bank of Korea
- Reported loss: Approximately $23.9 million
- Period: Third-quarter purchases
Source: news.google.com
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