Bank of Korea Reports Gold ETF Holdings Worth $250 Million
The Bank of Korea (BOK) revealed in a filing to the U.S. Securities and Exchange Commission at the end of June 2026 that it owns 679,765 shares of the SPDR Gold Shares ETF, valued at approximately $250 million. This marks the central bank’s first investment linked to gold since 2013.
By acquiring gold ETFs, the BOK gains exposure to gold price movements without increasing its physical gold reserves. The ETF holdings represent about 6.4% of the bank’s reported securities portfolio. Notably, three months prior, BOK’s report showed no such ETF positions.
Gold ETFs are classified within South Korea’s foreign exchange reserves as securities assets, unlike physical gold, which is categorized as a long-term reserve asset. Consequently, this purchase does not affect the central bank’s consistent physical gold holdings of around 104.4 tonnes maintained since 2013.
Domestic Gold Purchases and Central Bank Policy Developments
In August 2026, the Bank of Korea announced it had established a framework permitting domestic gold purchases, a move that could lead to the first local gold market acquisitions in nearly six decades. However, the bank has not increased its physical gold reserves since its last purchase of 20 tonnes in 2013.
Globally, central banks accelerated gold acquisitions in Q2 2026, adding a record 289 tonnes, the second-highest quarterly total on record. Poland led with 51 tonnes purchased in the quarter, while China bought approximately 20 tonnes solely in July, underscoring sustained international central bank appetite for gold.
Recovering Investor Interest in Gold and Market Implications
Investor demand also showed signs of revival, with gold-backed funds recording net inflows of $3 billion in July 2026, reversing two prior months of outflows. The Bank of Korea’s future reports will be closely watched for indications whether it plans to further increase gold exposure or shift from ETFs towards augmenting physical gold reserves.
The Bank of Korea’s entry into gold ETFs reflects a strategic diversification amid ongoing global economic uncertainties and inflationary pressures. Monitoring the central bank’s subsequent gold market activities will provide valuable insight into its reserve asset management approach and its influence on the broader global gold market.