Will the price of gold go up??
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According to the Korea Gold Exchange on Sunday, when a gold coin (3.75 grams) was purchased, the price was 454,000 won (41 dollars) as of the previous day, up 3,000 won (0.67 percent) from the previous day. When a gold coin was sold, the price was 398,000 won (39 dollars), the same as the previous day.
On the KRX gold market on the Korea Exchange, the price of 1 gram of gold was 107,790 won as of the closing price on the 1st. It soared 24.84 percent compared to the closing price (86,340 won) on December 28 last year.
Gold futures are at a historic high. On the New York Mercantile Exchange on March 31, gold futures for December delivery rose 0.86 percent from the previous session to close at 2473.00 dollars per ounce.
Exchange-traded funds (ETFs) based on gold are also making solid profits.
According to Coscom ETF Check, the 6-month yield of ACE Gold Futures Leverage (Synthetic H) of Korea Investment Trust Management recorded 32.18% as of the 1st. This product doubles the yield of gold futures.
During the same period, the ACE KRX gold spot ETF showed a return of 22.98%, Samsung Asset Management KODEX Gold Futures (H) showed a return of 17.39%, and Mirae Asset TIGER Gold Futures (H) showed a return of 17.17%.
The volume of transactions is also on the rise. According to the Korea Exchange, gold trading volume in the first half of this year totaled 8,962 kilograms, up 15 percent year-on-year. The transaction value also reached 879.3 billion won, up 40 percent year-on-year. In particular, central banks' gold purchases amounted to 290 tons in the first quarter of this year, the highest since 2000. This accounted for about 23 percent of global gold demand.
Ismail Haniye, the supreme leader of the Palestinian militant Hamas politburo, was recently killed in an Israeli attack in Tehran, the capital of Iran. In this regard, Iran's supreme leader Ayatollah Ali Khamenei has ordered "mandatory retaliation" against Israel.
Gold is also considered an asset that will benefit if former President Donald Trump wins the U.S. presidential election. The market expects that if Trump, who advocates "America First," returns to power, he will raise tariffs and release money, increasing inflationary pressure, and increasing demand for gold, a means of avoiding inflation.
Kim Kwang-rae, a senior researcher at Samsung Futures, said, "There have been a series of retaliatory attacks between Israel and Hezbollah, including friction between Israel and Hamas, but this time the Hamas head was killed in an Israeli attack, raising concerns about escalation."
"In particular, the fact that the Israeli military's attack took place in Tehran, the capital of Iran, and also the day after the inauguration of the new president, adds significance," researcher Kim said. "As Hamas chief Haniyeh was the one who led the ceasefire negotiations between Hamas and Israel, it is expected that the ceasefire negotiations between Israel and Hamas will be difficult in the future."
On the KRX gold market on the Korea Exchange, the price of 1 gram of gold was 107,790 won as of the closing price on the 1st. It soared 24.84 percent compared to the closing price (86,340 won) on December 28 last year.
Gold futures are at a historic high. On the New York Mercantile Exchange on March 31, gold futures for December delivery rose 0.86 percent from the previous session to close at 2473.00 dollars per ounce.
Exchange-traded funds (ETFs) based on gold are also making solid profits.
According to Coscom ETF Check, the 6-month yield of ACE Gold Futures Leverage (Synthetic H) of Korea Investment Trust Management recorded 32.18% as of the 1st. This product doubles the yield of gold futures.
During the same period, the ACE KRX gold spot ETF showed a return of 22.98%, Samsung Asset Management KODEX Gold Futures (H) showed a return of 17.39%, and Mirae Asset TIGER Gold Futures (H) showed a return of 17.17%.
The volume of transactions is also on the rise. According to the Korea Exchange, gold trading volume in the first half of this year totaled 8,962 kilograms, up 15 percent year-on-year. The transaction value also reached 879.3 billion won, up 40 percent year-on-year. In particular, central banks' gold purchases amounted to 290 tons in the first quarter of this year, the highest since 2000. This accounted for about 23 percent of global gold demand.
Ismail Haniye, the supreme leader of the Palestinian militant Hamas politburo, was recently killed in an Israeli attack in Tehran, the capital of Iran. In this regard, Iran's supreme leader Ayatollah Ali Khamenei has ordered "mandatory retaliation" against Israel.
Gold is also considered an asset that will benefit if former President Donald Trump wins the U.S. presidential election. The market expects that if Trump, who advocates "America First," returns to power, he will raise tariffs and release money, increasing inflationary pressure, and increasing demand for gold, a means of avoiding inflation.
Kim Kwang-rae, a senior researcher at Samsung Futures, said, "There have been a series of retaliatory attacks between Israel and Hezbollah, including friction between Israel and Hamas, but this time the Hamas head was killed in an Israeli attack, raising concerns about escalation."
"In particular, the fact that the Israeli military's attack took place in Tehran, the capital of Iran, and also the day after the inauguration of the new president, adds significance," researcher Kim said. "As Hamas chief Haniyeh was the one who led the ceasefire negotiations between Hamas and Israel, it is expected that the ceasefire negotiations between Israel and Hamas will be difficult in the future."
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