SEOUL: South Korea’s gold reserves ranked 34th largest in the world. According to data by the World Gold Council analyzed by a domestic think tank of KB Financial Group, the Bank of Korea held 104 tons of gold as of December or one-point-three percent of the nation’s foreign reserves. It’s the 34th largest in the world including international organizations.
The United States has the largest gold holdings at eight-thousand-133 tons, some 78 times more than South Korea. Following the list are Germany, the International Monetary Fund, Italy and France.
China ranking sixth and Russia at seventh purchased 50 and 77 tons of gold respectively in last year’s third quarter alone. The combined amount accounted for 73 percent of all gold purchases made by the world’s central banks.
