Retail investors return to gold market as prices rebound
Individual investors in Korea are returning to the gold market after selling for three consecutive months, as prices have rebounded from a steep correction following their record highs. According to the Korea Exchange (KRX) on Tuesday, individuals net bought 133 billion won ($94 million) worth of gold on the KRX Gold Market between Aug. 1 and last Friday. The buying turnaround contrasts sharply…
In Korea, individual investors are once again purchasing gold after a three-month streak of selling, as prices have climbed back from a significant drop following their all-time high. The Korea Exchange (KRX) reported that retail investors bought 133 billion won worth of gold on the KRX Gold Market between August 1 and July 31. This buying surge is a stark contrast to the selling pattern that dominated the previous month.
From May to July, retail investors sold approximately 524 billion won worth of gold, including 125 billion won in May, 348 billion won in June, and 51 billion won in July. However, they reversed this trend in August. During the same timeframe, individuals also increased their investments in gold-related exchange-traded funds (ETFs).
The return to gold is attributed to a sharp rise in international prices following a long decline, fueled by a decline in U.S. inflation data and renewed hopes for policy relaxation by the Federal Reserve. Gold futures on the New York Mercantile Exchange reached a record closing high of $5,354.80 per ounce on January 29.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- Retail investors return to gold market as prices rebound koreatimes.co.kr
