Koreans were snapping up lots of gold last
year… with sales of small bars driving sales to almost double from the previous year.
The Korea Gold Exchange says gold bar sales came to just over 13-hundred-80 kilograms
in 2014. Seventy percent of the total weight sold was
in smaller sized bars weighing less than 50 grams.
Sales of one-kilogram bars,… that′d currently cost you over 40-thousand U.S. dollars,…
were down. An official from the exchange says middle
class Koreans are snapping up small gold bars as they are considered a safer investment
than stocks or real estate. Gold prices have nearly tripled over the past
decade… and one ounce 28 grams was trading at just under 13-hundred U.S. dollars on Tuesday.