Gold Price Surpasses 70,000 Won Intraday... Sets Record High

Amid falling gold prices, Asian consumers are stepping up their gold purchases.

[Asia Economy Reporter Eunmo Koo] The price of gold, considered a representative safe-haven asset, reached an intraday all-time high on the Korea Exchange (KRX) gold market.

According to the Korea Exchange on the 14th, as of 9:08 a.m., the price per gram of 1kg gold spot on the KRX gold market was traded at 70,060 KRW, up 0.23% from the previous trading day.

This is the highest intraday price since the KRX gold market was established in March 2014. The previous intraday high was 70,000 KRW, recorded on May 18. The day before, the closing price set an all-time high at 69,900 KRW.

On the 13th (local time), August delivery gold on the New York Mercantile Exchange closed at $1,814.10 per ounce, up 0.7% ($12.20), rebounding after three trading days.