Elcomtec is showing strong performance. This is interpreted as being influenced by news that the price of gold has surpassed 400,000 won per don, continuing its soaring trend.
As of 2 PM on the 28th, Elcomtec is trading at 1,372 won, up 4.73% compared to the previous day.
According to the Korea Exchange, on the 27th, the price of gold reached a record high of 401,000 won per don (3.75g). As of the morning of that day, gold was trading at around 95,000 won per gram.
Recently, gold prices have been steadily rising due to the easing of monetary policy, such as interest rate cuts in the United States. Gold, a representative safe-haven asset, tends to perform strongly during periods of monetary policy easing. Additionally, increasing geopolitical risks such as the Russia-Ukraine war and Middle East conflicts are factors that boost demand for gold.
Meanwhile, Elcomtec is grouped in the market as a gold-related stock because it holds exploration rights for gold-bearing mining areas through its Mongolian subsidiary.
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