Bank of Korea Resumes Gold Purchases After 13 Years: Why Even a "Wounded" Central Bank Changes Its Mind?

On August 4, 2026, the Bank of Korea announced the resumption of gold reserve allocation after 13 years, officially joining the global central bank gold-buying cohort. This article provides an in-depth analysis of the Bank of Korea's "dual-track gold purchasing" plan, the lessons learned from the significant paper losses incurred during the high-price gold purchases 13 years ago, and how geopolitical risks, reserve diversification, and the de-dollarization wave collectively drove this change of