Domestic Gold Prices Surge 4% on 25th, Oil Prices Dip Slightly

On the 25th, the price of gold per gram on the Korea Exchange (KRX) rose by 3.99% (8,440 won) from the previous trading day to 219,940 won. This surge is attributed to increased demand for safe-haven assets amid recent global geopolitical instability. While international gold prices fell 0.12% to $4,402.00 per ounce on the New York Mercantile Exchange on the 24th (local time), they rose 3.43% to $4,552 by 3:30 AM Korean time on the 25th.

As of 3 PM on the 25th, the average gasoline price nationwide was 1,818.87 won per liter, down 0.05 won from the previous day, and diesel prices were 1,815.21 won per liter, down 0.32 won. At the same time, the average gasoline price in Seoul was 1,847.3 won per liter, down 0.57 won from the previous day, and the average diesel price in Seoul was 1,835.18 won per liter, down 0.17 won. During the period of the maximum price system implementation, international oil product prices showed an upward trend, but domestic gasoline and diesel retail prices showed a downward trend compared to the previous day.

On the 23rd (local time), international crude oil prices fell by more than 10% following news of negotiations between the US and Iran under President Donald Trump, but later rebounded by 5%.

While domestic and international gold prices recorded an upward trend, gasoline and diesel prices at gas stations nationwide showed a slight decrease, exhibiting contrasting movements.