Korea's ranking for gold reserves fell one notch over the past year, from 38th to 39th in the world. Although international gold prices have repeatedly hit a record high, the ranking appears to have slipped as the Bank of Korea (BOK) has not purchased additional gold since 2013.
According to the World Gold Council on the 27th, the Bank of Korea (BOK) held 104.4 tons (t) of gold at the end of last year, ranking 39th among Central Bank institutions worldwide. If the International Monetary Fund (IMF), which ranks third, and the European Central Bank (ECB), which ranks 14th, are included, the ranking drops to 41st.
The Bank of Korea (BOK) has kept its holdings at 104.4 t for 13 years after buying a total of 90 t of gold from 2011 to 2013. As a result, the BOK's gold-reserve ranking steadily declined from 32nd at the end of 2013 to 33rd at the end of 2018, 34th at the end of 2021, 36th at the end of 2022, 38th at the end of 2024, and 39th at the end of 2025.
The recent drop in ranking was largely due to Azerbaijan lifting its position by purchasing 83 t over the past two years. Last year, Poland bought the most gold at 95.1 t, while Kazakhstan (49 t) and Brazil (42.8 t) also made large purchases.
In a recent report, the World Gold Council said, "While the pace of net gold purchases by Central Bank institutions has slowed somewhat, the buying momentum remains solid." The assessment is that growing geopolitical and economic uncertainty is spurring gold purchases.
International gold prices are hitting a record high amid demand for safe-haven assets. After surging 65% last year, the upward trend has continued this year.