Gold Prices Dip Slightly After Surpassing $4,000 Per Ounce

Following a historic peak above $4,000 per ounce in mid-June, gold prices have entered a short-term consolidation phase. This price adjustment is analyzed as being driven by the potential for further interest rate hikes by the U.S. Federal Reserve (Fed) and pressure from a stronger dollar.

Geopolitical instability in the Middle East and Europe continues to underpin demand for gold as a safe-haven asset.

Based on these factors, the year-end gold price forecast for 2026 has been revised downward from an earlier projection of $5,400 to $4,900.

As of 00:00 on June 21, 2026, the Korea Gold Exchange's pure gold price (24k, 3.75g) was 898,000 won for buying and 751,000 won for selling. Prices for 18K, 14K, platinum, and silver were also provided.

The current gold market is experiencing heightened volatility due to a complex interplay of macroeconomic factors and geopolitical risks. The U.S. Fed's monetary policy direction and the trajectory of the dollar's value are expected to be key variables for gold prices in the near future.