SEOUL, April 12 (Korea Bizwire) — With the price of gold surging in recent days, an increasing number of investors are buying actual gold products.
According to industry sources, the value of gold bars sold through the nation’s four major banks during the period from April 1 to 6 stood at about 2.49 billion won (US$1.88 million), equivalent to 63 percent of last month’s total sales.
Sales of gold bars have been on an upward trend, rising from 1.98 billion won in January to 3.29 billion won in February and 3.95 billion won in March.
In the local gold trading market Korea Exchange, the gold spot price shot up to 86,700 won per 1 gram during trading hours on Friday, the highest since gold trading was launched in 2014.
Experts warn that although gold prices are approaching a historic high, starting new investments in gold should be approached with caution.
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