Soaring prices boost gold as investment, while traditional gift role fades
Min Da-young, the mother of a preschooler, is debating whether to sell the rings and other gold jewelry gifted for her son’s dol, a traditional 100-day celebration, as soaring gold prices offer a tempting opportunity for financial gain. “I know dol gifts are meaningful, but with gold prices so high, I don’t want to miss the chance to profit,” she said. Pure gold is currently priced at 908,000 won ($630) per 3.75 grams — the standard unit for retail gold purchases in Korea — up 70.3 percent from 533,000 won at the start of the year. At the same time, she is wrestling with whether to give gold jewelry to her younger sister’s son for his upcoming dol, noting, “Rising gold prices have made these traditional gifts increasingly burdensome.” Min’s dilemma illustrates a trend sparked by soaring gold prices, as the precious metal is increasingly seen as an investment while losing its appeal as a gift item, despite long-held traditions. The Korea Gold Exchange forecasts that the price of pure gold could surpass the milestone of 1 million won per 3.75 grams as demand for the metaWeiter zum vollständigen Artikel bei Korea Times
Quelle: Korea Times
