Sales of gold bars rising amid rising tension on peninsula [S. Korea]

Sales of gold bars rising amid rising tension on peninsula [S. Korea]


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Sales of gold bars rising amid rising tension on peninsula [S. Korea]
Korea Herald ^ | 2017-08-13

Posted on 08/12/2017 9:19:13 PM PDT by TigerLikesRooster

Sales of gold bars rising amid rising tension on peninsula

Sales of gold bars, regarded as a safe haven for investors, are increasing in South Korea amid escalating tension with North Korea, industry sources said Saturday.

The Korea Gold Exchange, a local trader, said the average daily sales of 100-gram gold bars reached 250 units since Wednesday, rising sharply from 50 units on average.

Industry watchers said the demand for smaller gold bars is increasing as they are easier to carry compared to kilo-level products. A 10-gram gold bar is currently trading at around 550,000 won ($480), the trader added.

“Starting this week, the number of affluent consumers in their 50s and 60s purchasing gold bars is increasing,” an official from the trader said. “The move apparently followed the geopolitical tension, along with rumors of a crisis in August.”

Market watchers said the demand for gold bars is expected to continue increasing for the time being, until the tension on the Korean Peninsula settles down. (Yonhap)


TOPICS: Foreign Affairs; News/Current Events
KEYWORDS: gold; nkorea; skorea


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To: TigerLikesRooster; AmericanInTokyo; Steel Wolf; nuconvert; MizSterious; endthematrix; …

2 posted on 08/12/2017 9:19:43 PM PDT by TigerLikesRooster (dead parakeet + lost fishing gear = freep all day)

To: TigerLikesRooster

3 posted on 08/12/2017 9:22:30 PM PDT by montag813 (ue)

To: TigerLikesRooster; AndyJackson; nicksaunt; MadLibDisease; happygrl; Roy Tucker; GOPJ; dervish; …

4 posted on 08/12/2017 9:25:23 PM PDT by TigerLikesRooster (dead parakeet + lost fishing gear = freep all day)

To: TigerLikesRooster

5 posted on 08/12/2017 9:34:39 PM PDT by 2ndDivisionVet (You cannot invade the mainland US. There’d be a rifle behind every blade of grass.)

To: TigerLikesRooster

yet silver is bouncing around near where it’s been for the last four years
6 posted on 08/12/2017 9:43:45 PM PDT by Chode (You have all of the resources you are going to have. Abandon your illusions and plan accordingly.)

To: TigerLikesRooster

Bitcoin up nicely. $4033.88


To: Karl Spooner

Bitcoin hit just shy of $4100 just a while ago. Just yesterday it was in the $3600 range.

I think Bitcoin may just be Apple 10 years ago.

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