Gold Exports Hit Seven-Year High as Demand for Safer Assets Increases

  • Arirang News

    April 09, 2020 09:25

    Korea's exports of gold rose to a seven-year high in February with the price of gold at historic highs.

    The Bank of Korea said Wednesday that the country's gold exports for non-monetary use amounted to US$290 million in the month, the highest since September 2012. In terms of volume, more than half of them were shipped to Hong Kong.

    The bank attributed the rise to the fact that investors are turning to safer assets like gold due to stock market volatility caused by the coronavirus outbreak.

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