Gold Prices Take a Breather After Hitting Record Highs

International and domestic gold markets have entered a phase of consolidation for a potential rebound after hitting record highs earlier in the year.

As of May 2, 2026, the price to buy pure gold (24K) per don (3.75g) was approximately 950,000 won, with the selling price at around 790,000 won. According to the Korea Gold Exchange as of 00:00 on May 3, 2025, the buy price for pure gold (24K, 3.75g) was 957,000 won, and the sell price was 796,000 won. The price for 18K gold was 585,100 won (selling), and for 14K gold, it was 453,800 won (selling). Platinum prices were 410,000 won (buy) and 333,000 won (sell), while silver prices were 15,190 won (buy) and 12,460 won (sell).

The international gold market also experienced a price correction of approximately 10-13% between March and April, after reaching an all-time high of $5,589 per ounce in January. Currently, prices are being maintained in the $4,800-$4,900 per ounce range. According to CNBC, as of 5:40 PM EST on May 1, gold prices stood at $4,625.60, and silver prices were $75.84.

Despite temporary volatility in May, experts predict a 'bullish' trend for gold prices throughout 2026. While profit-taking from the early-year surge may linger in the market, causing fluctuations in May, sustained structural demand from central banks and individual investors is expected to push prices above $6,000. However, a strong dollar, bolstered by robust U.S. economic indicators, could exert downward pressure on international gold prices.