Korea Exchange Gold Market daily trading volume surpasses 1 ton for first time… gold price hits record high
Summary
- It reported that the KRX Gold Market's daily trading volume exceeded 1 ton, marking an all-time high.
- It stated that the KRX Gold Market's gold price reached a record high at 167,740 won/g based on the 1kg closing price.
- It reported that expectations of global interest rate cuts and central banks' continued gold purchases influenced the rise in gold trading volume and gold prices.
KRX Gold Market's daily trading volume exceeded 1t, marking the highest level since the market opened.
On the 9th, according to the Korea Exchange, the KRX Gold Market's daily trading volume was recorded at 1093kg. It is the largest scale ever since the market opened in March 2014. This is about 3.5 times this year's daily average trading volume of 313kg.
The value of gold transactions also reached a record high at 179.4 billion won. That day the KRX Gold Market price was 167,740 won/g based on the 1kg closing price, surpassing the previous peak of 163,530 won (Feb. 14).
The exchange explained that gold prices surged thanks to expectations of global interest rate cuts and continued gold purchases by central banks, and that the preference for safe assets coincided, leading to a large increase in gold trading volume.
Go Jeong-sam Hankyung.com reporter jsk@hankyung.com
Korea Economic Daily
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