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Gold Prices on June 27... International Gold Up 1.2%, Rising on Heightened US-Iran Tensions

As of June 27 Korean time, the international gold price at the GC New York Mercantile Exchange recorded $4,096.30 per ounce. This represents a 1.20% increase fr

Oseong Kwon
Staff Reporter
3 min read
Gold Prices on June 27... International Gold Up 1.2%, Rising on Heightened US-Iran Tensions
CBC News

As of June 27 Korean time, the international gold price at the GC New York Mercantile Exchange recorded $4,096.30 per ounce. This represents a 1.20% increase from the previous day.

On the same day, domestic gold prices showed slight differences across exchanges. Based on the Korea Gold Exchange, the price for purchasing 3.75g of gold was 885,000 won, while the selling price was 734,000 won. According to Gold Price.com, the purchase price was 879,000 won and the selling price was 745,000 won.

The upward trend in gold prices is attributed to the renewed escalation of geopolitical risks between the United States and Iran.

In a statement on June 27 (local time), U.S. Central Command announced, "We conducted airstrikes against Iran in direct response to Iran's continued attacks on commercial vessels." It added, "U.S. military aircraft struck 10 military targets, including Iranian reconnaissance infrastructure, communication systems, air defense bases, and drone storage facilities."

In response, Iran's Ministry of Foreign Affairs issued a statement on June 28 (local time) strongly condemning the United States. Iran denounced the U.S. airstrike on several surveillance facilities along Iran's southern coast, claiming it constitutes a violation of the existing memorandum of understanding (MOU).

Amid growing geopolitical uncertainty, market attention is focused on the future direction of gold prices.

[※ This article is not intended to solicit investment. All final investment decisions and responsibilities lie with the investor.]

Oseong Kwon
Staff Reporter

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