According to Yonhapinfomax, South Korea's central bank announced in August that it will resume gold purchases for the first time in 13 years, citing prolonged geopolitical risks and reduced acquisition costs. The decision follows a sharp decline in international gold prices, which have fallen over 30% from their January peak of approximately $5,598 per ounce to around $4,000 in recent months. Domestic gold banking product balances among major commercial banks contracted significantly to 1.71 trillion Korean won by end of July, down from 2.44 trillion won at the end of January, reflecting weakened retail investment demand.
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