GOLD NEWS

Gold Trading Volume at Korea Exchange Jumps 40% in First Half of 2024

Mon July 15 2024

The trading volume of gold in the country sharply increased in the first half of the year amid global economic uncertainties. According to data from the Korea Exchange, the country’s bourse operator on Sunday, the trading volume of gold came to 879-point-three billion won, or roughly 636-million U.S. dollars, in the first six months of the year, up 40 percent from a year earlier.

A total of eight-thousand-962 kilograms of gold was traded in the January-June period, up 15 percent from a year ago. Individuals accounted for the largest share of the trade at 42-point-nine percent, while institutions took up nearly 40 percent.

As of the end of June, gold was traded at 103-thousand-410 won per gram, up 20 percent from the end of last year.  The Korea Exchange said that gold price is on the rise with growing demand from central banks amid expectations of a rate cut in the U.S., as well as increasing geopolitical risks in the Middle East and Ukraine.

Source: https://world.kbs.co.kr/