The Bank of Korea (BOK) has responded to questions from inside and outside the country as to why they have not joined other central banks in ramping up gold purchases. Choi Wan-ho, head of the management planning team at the Bank of Korea's foreign capital management agency, published an article on the BOK's blog on April 30 in which he explained the reasoning behind the central bank’s reticence to buy gold. In ‘Gold as foreign exchange reserves, how should I look at it?’ Choi said the precious metal’s high volatility and low liquidity are the reasons why the Bank of Korea is most reluctant to buy gold. “In the past, ... (full story)