Trump Tariff War Surges 4.4x Year-Over-Year
Gold Prices Surge in South Korea Amid Global Economic Uncertainty
SEOUL – Heightened global economic anxieties,fueled in part by international trade tensions,have triggered a meaningful surge in gold trading activity in South Korea. Investors are increasingly turning to the precious metal as a safe-haven asset, driving up both trading volumes and prices.
the average daily trading value in the gold spot market on the Korea Exchange has skyrocketed to 50.91 billion won this year,a staggering 341.85% increase compared to last year’s average of 11.5 billion won, according to data released by the Korea Exchange on Wednesday.
correspondingly, the daily trading volume of gold spots has jumped to 353.6 kg, representing a 241.45% rise from the previous year’s average of 103.5 kg. This surge in gold market activity stands in stark contrast to the domestic stock markets (KOSPI, KOSDAQ, and Nextrade), where the daily average trading value has slightly decreased by 3.44% to 18.4776 billion won.
The trend extends beyond the spot market, with gold banking also experiencing substantial growth. The combined gold banking balance across three major commercial banks – KB Kookmin,Shinhan,and Woori Bank – reached 1.64 trillion won as of May 17th. This represents a 75% increase of 454.8 billion won compared to the end of April last year. Gold banking, which allows customers to buy and sell gold in small increments through bank accounts, has gained popularity due to its accessibility and flexibility.
The price of gold has been on an upward trajectory, further fueling investor interest. On the New York commercial Exchange, the price of Indian gold futures for June delivery reached $3328.40 per ounce on May 17th. The previous day saw a peak of $3346.40 per ounce, approximately 26% higher than the end-of-year price of $2641 per ounce. similarly, the gold price on the Korea Exchange Gold Market (1kg) has risen from 12,7850 won at the end of last year to 15,260 won this month.
Analysts attribute the surge in gold demand to growing uncertainty surrounding the global economy. “Global economic uncertainty is expanding the demand for investors’ ‘safety haven’,” said Hwang Byung-jin, director of NH Investment & Securities. The unpredictable nature of international trade policies and other geopolitical factors are prompting investors to seek refuge in the perceived stability of gold.
While other assets, such as Bitcoin, were initially expected to benefit from the current economic climate, gold has emerged as the preferred safe-haven asset for many investors. The trend is expected to continue in the near term, given the ongoing uncertainties in the global economy.
Gold Prices Surge in south Korea: Your Guide to the Market
SEOUL – Heightened global economic uncertainties are causing a significant increase in gold trading activity in South Korea. Investors are increasingly favoring the precious metal as a safe haven, leading to higher trading volumes adn prices. Let’s explore this trend in detail.
Why is Gold trading Surging in South Korea?
Q: What’s driving the increased interest in gold in South Korea?
A: The primary driver is the heightened global economic anxieties. Investors are seeking safe-haven assets to protect their wealth in uncertain times. This is fueled by concerns about international trade tensions and broader geopolitical factors.
gold Market Activity: What the Numbers Tell Us
Q: How has gold trading volume changed in South korea this year?
A: According to data from the Korea Exchange, the average daily trading value in the gold spot market has dramatically increased:
* Trading Value: the average daily trading value