Commodities
South Korean Gold Prices Plummet Amid Dollar Strength
Gold prices in South Korea have plummeted nearly 10% over the past month, with investors feeling the pinch. A stronger dollar and rising Treasury yields, driven by expectations of further U.S. rate increases, are behind the decline.
The price of gold on the KRX market has fallen to around 183,000 won per gram, down from 203,010 won just a month ago. This means that an investment of 10 million won in domestic gold would now be worth about 9.06 million won.
Global markets are showing a similar trend, with spot gold falling as low as $4,110.55 an ounce during trading on the 28th. The metal settled at $4,136.81, down 3.61% from the previous session.