Korea's central bank buying Gold
Korea's central bank bought 15 tons of Gold Bullion last month, adding to the 25 tons it bought earlier in the year.
The Bank of Korea added to its Gold Bullion reserves in a bid to diversify its portfolio of foreign exchange reserves, said Lee Jung, head of investment strategy for the BoK's Reserve Management Group.
South Korea has huge reserves, when they buying Gold, it supports for the market.
Paul A. Ebeling, Jnr.
Paul A. Ebeling, Jnr
Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster's Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.
Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels.