Korea recorded gold trade surplus in 2016 for first time in 4 years

Korea recorded gold trade surplus in 2016 for first time in 4 years


Korea’s gold trade balance recorded a surplus
last year, for the first time in four years. The Bank of Korea said on Monday that trade
in non-monetary gold — that is, all gold products that aren’t being held as foreign
reserve assets — amounted to a surplus of some 2-hundred-and-sixty-five million U.S.
dollars in 2016. Investors in Korea sold off their gold,…
taking advantage of a spike in the global gold price, triggered by uncertainties in
the aftermath of Britain’s decision to leave the EU. Korea’s gold exports reached one-point-one-five
billion dollars last year, up 25-percent from 2015. Import figures fell 25-point-eight percent
to 886-point-five million dollars.

Be the first to comment

Leave a Reply

Your email address will not be published.


*