Gold Prices Fall Amid High Oil and Strong Dollar

Gold prices have fallen as high international oil prices, a strong U.S. dollar, and inflation concerns converge. Gold prices have mirrored movements in the oil market, and rising energy costs have heightened focus on dollar strength and inflation risks. Mounting inflationary pressures have increased the likelihood of sustained high interest rates, diminishing gold's appeal as an asset that does not generate yield.

Amid ongoing tensions between the U.S. and Iran over the Strait of Hormuz, production adjustments by major oil-producing nations and geopolitical tensions have driven up international oil prices and U.S. Treasury yields. This situation has fueled risk appetite, leading to capital inflows into stock markets, including a record high for the Nasdaq index. With demand for safe-haven assets and risk appetite trends acting concurrently, market volatility has expanded, and gold prices have fluctuated amidst these complex factors.

Spot gold prices fell 0.3% to $4,724.54 per ounce, while U.S. gold futures for June delivery dropped 0.3% to $4,734.90. On the morning of April 23 (local time), gold prices saw a slight decline to $4,748.30, and silver prices also fell to $76.28.

According to the Korea Gold Exchange, as of midnight on April 24, 2025, the price for pure gold (24k, 3.75g) was 988,000 Korean won for purchase and 824,000 won for sale. 18K gold was priced at 605,700 won for sale, and 14K gold at 469,700 won. Platinum prices were 429,000 won for purchase and 349,000 won for sale, while silver prices were 15,790 won for purchase and 12,950 won for sale.