Editor’s Note
This article reports on the rebound in domestic gold prices following a recent sharp decline. The information is based on data from the Korea Exchange.
(Seoul = Yonhap News) Reporter Hwang Cheol-hwan = As the sharp decline in precious metal prices in the global commodity market has subsided for now, domestic gold spot prices are rising for two consecutive days.
According to the Korea Exchange (KRX) Information Data System on the 3rd, the domestic gold price (99.99_1kg) in the KRX Gold Market was trading at 247,130 won per gram as of 9:45 AM, up 5.13% from the previous session.
Domestic gold prices had plunged, falling 6.23% on the last trading day of last week (the 30th of last month) and then hitting the lower limit (-10.00%) on the 2nd.
However, as the impact of the gold and silver futures margin call shock, which triggered the sharp drop in precious metal prices, subsided, prices closed up 3.68% the previous day and continued their upward trend today.
In the international precious metals market, gold and silver prices have also halted their decline from the previous session and begun to rebound.
Overnight, April delivery gold futures on the COMEX, part of the CME Group, surged 6.1% to close at $4,935.0 per ounce. March delivery silver futures also closed up 8.2% at $83.3 per ounce.
