Gold Prices Plummet: Dropping Below 200,000 Won for the First Time in 6 Months

Gold, widely considered a representative safe-haven asset, is experiencing instability.

Domestic gold prices have fallen below 200,000 won per gram for the first time in six months.

According to the Korea Exchange, the price of gold opened at 198,060 won per gram yesterday (June 11) and at one point slid as low as 196,780 won.

Domestic gold prices soared to record highs early this year, surpassing 260,000 won per gram, but have since seen their upward momentum break, continuing a downward trend.

This represents a decline of approximately 25% compared to its peak.

At the onset of the Middle East conflict, there were predictions that the preference for gold as a safe-haven asset would intensify.

However, concerns over inflation caused by the war have highlighted the possibility of interest rate hikes by central banks worldwide, including the U.S. Federal Reserve.

Consequently, analysts suggest that capital is shifting toward the U.S. dollar, which is currently rising in value.
※ Please note: This article was translated by AI and may contain errors.