Editor’s Note
This article highlights the recent volatility in domestic gold and silver prices, driven by growing uncertainty in global financial markets. The figures cited are based on data from Goldsise.com as of the 9th.
As uncertainty in the international financial markets grows, domestic gold and silver prices are fluctuating again.
According to Goldsise.com on the 9th, the domestic purchase price for pure gold (3.75g) rose by 10,000 won compared to the previous day to 865,000 won. The selling price, which is applied when consumers actually purchase gold, increased by 14,000 won in a single day to 1,017,000 won.
18K and 14K gold also rose together. The purchase price for 18K gold increased by 8,000 won to 638,000 won, while 14K rose by 6,000 won to 495,000 won. Industry sources explain that due to the pricing structure for products, the actual price felt by consumers could be even higher. Platinum also saw its purchase price surge by 30,000 won in just one day to 353,000 won, with the selling price soaring to 425,000 won.
Not only gold, but the upward trend in silver prices is also noticeable. The purchase price for silver (3.75g) rose by 1,500 won to 18,500 won, and the selling price increased by 1,000 won to 21,000 won. Price increases are also appearing across silver bars and silver products in general.
Looking at purchase prices by pure gold product type, gold bars and stamped ingots maintained the highest level at 865,000 won. Stamped products like rings and medals were priced at 855,000 won, necklaces and bracelets at 853,000 won, and chain types at 851,000 won, showing price differences depending on the product form.
Experts cite concerns over a global economic slowdown, geopolitical risks, and uncertainty in major countries’ monetary policies as the background for the recent rise in gold and silver prices.
However, some point out that caution is needed for chasing purchases as volatility may expand following a short-term sharp rise. The market expects domestic prices to show high volatility for the time being, following the trend of international gold prices.