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Bucking the global trend, S. Koreans pile into gold

2015-08-05 04:18:12| Chemicals - Topix.net

SEOUL: South Koreans are on course to buy a record amount of gold in 2015, worried that a meltdown in China's stock markets will destabilise South Korean equities and keen to replenish a traditional store of value in an era of low interest rates. In contrast to the weak demand in top gold buyers China and India, South Koreans are on target to buy one trillion won in bullion for the first time this year, based on first-half sales through Korea Gold Exchange 3M Co Ltd, the country's largest gold merchant.

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