Gold Price in Korea Plunges 17.7% in 3 Months: The Won Effect
The gold price in Korea has fallen about 17.7% in won terms over 3 months, more than the dollar drop. Yahoo Finance data on November 13 shows gold at $3,912.9 an ounce, down 12.41% in 3 months, while the won strengthened to 1,331.28 per dollar. Korean holders took both hits at once. Your gold hasn’t disappeared, but the two forces pushing it down, 5.1% US Treasury yields and a firm dollar, are both still in place.