According to the Korea Gold Exchange, 194 silver bars weighing one kilogram each were sold in the morning hours after the sixth nuclear test conducted by the North on Sunday. (Image: Yonhap)
SEOUL, Sept. 4 (Korea Bizwire) — According to the Korea Gold Exchange, 194 silver bars weighing one kilogram each were sold in the morning hours after the sixth nuclear test conducted by the North on Sunday.
The exchange also added that it typically sells around 20 silver bars every day.
The price for a silver bar is 70 times the price of a gold bar of the same weight.
The difference is that back then, “mini” gold bars of 10 or 100 grams were most popular at the exchange. (Image: Yonhap)
When asked about the surge in consumer taste for silver bars, director Song Joong Gil mentioned that it was evocative of the tense political situation in April 2013 caused by North Korean provocations.
The difference is that back then, “mini” gold bars of 10 or 100 grams were most popular at the exchange.
“Normally when the political situation on the peninsula becomes unstable, sales of gold bars to the very wealthy increase dramatically, but oddly enough this time sales of silver bars have risen sharply,” said Song.
Song added that he expects sales of both gold and silver bars to grow even further provided the intense stare down between North Korea and the United States is prolonged.
The price for a silver bar is 70 times the price of a gold bar of the same weight. (Yonhap)
S.B.W. (sbw266@koreabizwire.com)
