As gold prices continue to hit record highs, attracting investors, the Korea Gold Exchange website has crashed. The Korea Gold Exchange website provides real-time international prices for gold, silver, platinum, and domestic gold prices.
As of 10:40 a.m. on the 6th, the number of people waiting on the Korea Gold Exchange website exceeded 10,000, with the current wait time reaching 3 hours. Approximately 30 minutes earlier, around 10:10 a.m., the waiting number was 2,000 with only a 1-hour wait time, but it appears that more investors flocked in after news of rising gold prices. The Korea Gold Exchange offers high-purity gold, gold bars, and products made of pure gold for purchase.
Typically, gold prices strengthen when expectations for inflation are high or when uncertainty in external markets increases, leading to a preference for safe assets. Over the weekend, U.S. President Donald Trump announced his intention to impose tariffs on Mexico, Canada, China, and the European Union (EU), creating a situation where countries like Canada are also planning retaliatory tariffs, increasing trade uncertainty.
As a result, gold prices are rising. According to the Korea Exchange (KRX), gold prices in the KRX gold market have increased daily from the 24th of last month until yesterday. When purchasing one 'don' (3.75g) of pure gold at the Korea Gold Exchange, the price was 564,000 won as of the previous day, marking a 7.02% increase since the beginning of the year. Including processing fees and VAT, the price for a gold ring in the market reaches about 600,000 won.