Editor’s Note
This article captures a moment of market volatility, as a customer sells gold during a day of sharp price swings in Seoul. It serves as a timely snapshot of how global economic fluctuations directly impact local consumer behavior.
On the afternoon of the 6th, a day marked by sharp declines and rebounds in gold prices that had been on a sustained upward trend, a customer is seen presenting gold products for sale at a precious metals store in Jongno-gu, Seoul.
The 24K gold price announced by the Korea Gold Exchange for the day was 992,000 won for buying, down 2.47% from the previous day. The selling price also fell 1.45% to 825,000 won.
International gold and silver prices are showing significant volatility, influenced by factors including the military standoff between the US and Iran, inflows of speculative funds, uncertainty regarding US monetary policy, and uncertainty surrounding Kevin Warsh, the nominee for the next Chair of the US Federal Reserve.