South Korea's exports of gold jumped to an over seven-year high in February as gold prices soared amid the COVID-19 pandemic.

The Bank of Korea said on Wednesday that the country's outbound shipments of gold for non-monetary use came to 290 million dollars in the month, the highest since September 2012 when it posted 327 million dollars. 

In terms of volume, the country's gold exports came to five-point-eight tons in February, up two-point-three tons on-year. Hong Kong was the largest buyer, importing three-point-four tons. 

The sharp increase in exports was attributed to a recent surge in prices as investors turned to safer assets amid increased market volatility.