🤑 Korea’s Golden Comeback: Bank Eyes Bling After a Decade of Dithering! 🤑

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Well, butter my biscuit and call me a goblin! South Korea’s central bank is finally dusting off its treasure chest and eyeing a return to gold buying after a 12-year nap. 🏦✨ Seems like they’ve decided it’s time to swap their won for something a bit more… shiny. 💰

Why now, you ask? Oh, just the usual: inflation’s rearing its ugly head, currencies are wobblier than a wizard on a unicycle, and everyone’s scrambling for a safe haven. 🌪️💸

Bank of Korea: “Gold? Yeah, We Remember That.”

According to the World Gold Council (WGC), the Bank of Korea has been sitting on 104.4 tons of gold, enough to make a dragon jealous but only ranking them 41st globally. 🏆 Last time they went on a gold spree was back in 2013, when they bought 40 tons in 2011, 30 tons in 2012, and 20 tons in 2013. Of course, the timing was as perfect as a troll’s fashion sense, and gold prices took a nosedive. 🪨⬇️ Cue the domestic backlash and a decade of “We’ll think about it tomorrow.” 🗨️

But now, with the economy looking like a swamp dragon’s breakfast, they’re reconsidering. Inflation’s roaring, currencies are weaker than a wet paper bag, and even the Korean won is feeling won-dering what’s next. 🌀💨

Heung-Soon Jung, the director of the Reserve Investment Division (fancy title, eh?), spilled the beans at a swanky event in Kyoto. 🗣️ “We’re thinking about buying more gold,” he said, probably while sipping tea and looking very important. 🍵

“The Bank of Korea plans to consider additional gold purchases from a medium- to long-term perspective,” he said, because why rush into anything, right? ⏳

They’ll keep an eye on the market, of course, because who doesn’t love a good stare-down with gold prices and the won’s mood swings? 👀

Global Central Banks: Gold Hoarders Anonymous

Turns out, the Bank of Korea isn’t alone in its golden dreams. In the first half of 2025, 23 countries were busy stockpiling gold like it’s the end of the world. 🌍 Poland grabbed 18.66 tonnes, Kazakhstan 15.65 tonnes, Turkey 10.83 tonnes, China 6.22 tonnes, and the Czech Republic 5.73 tonnes. Even central banks now hold more gold than US Treasuries-because who trusts paper these days? 📉

And get this: banks are expected to buy 900 tonnes of gold in 2025. That’s enough to make a dragon’s hoard look like a piggy bank. 🐉💰 Retail investors are also in on the action, lining up like it’s a sale at the Ankh-Morpork Market. 🛍️

Gold Prices: A Rollercoaster Even Nanny Ogg Would Avoid

Gold hit an all-time high of $4,381 per ounce last week, but then decided to take a nosedive, plunging 6% in its worst one-day drop in 12 years. Ouch. 😵‍💫 BeInCrypto reported that $2.1 trillion in market value vanished faster than a wizard’s promise. 🪄✨

The downtrend continued, with gold losing 8.4% in the past week, and prices even dipped below $4,000 per ounce for the first time since October 13. 📉 But fear not! Some experts are calling this a buying opportunity, predicting gold will soar to $6,000 per ounce. 🦅💹

Steve Hanke, an economist with a crystal ball, says this is the perfect time to buy. 🧙♂️ Analyst Rashad Hajiyev thinks the drop is “needed” to flush out weak traders and set the stage for a rally to $5,500-$6,000. 🚀 And Peter Schiff? He’s all in, saying gold below $4,000 is a steal. 🛒

“Gold is a great buy below $4,000, and silver is an even better buy below $47. Remember, it was just a week ago that gold almost hit $4,400 and silver traded above $54.40. Those highs will likely not even be close to the peaks of this bull market,” Peter Schiff added, probably while polishing his gold bars. 🧽✨

GOLD

Nearing a bottom

– The Great Martis (@great_martis) October 28, 2025

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2025-10-28 14:46