According to the Korea Gold Exchange market prices as of July 13, 2026, major precious metal prices showed an overall downward trend.

[Major Precious Metal Prices]

Pure gold (24K, 3.75g) was quoted at 864,000 won for buying and 727,000 won for selling. The buying price fell 0.81% (7,000 won) compared to the previous trading day, and the selling price also dropped 0.41% (3,000 won).

The selling price for 18K gold was 534,400 won, down 0.41% (2,200 won) from the previous trading day. The selling price for 14K gold was 414,400 won, falling 0.41% (1,700 won) over the same period.

Platinum (3.75g) was recorded at 339,000 won for buying and 275,000 won for selling. The buying price fell 0.88% (3,000 won) and the selling price dropped 1.09% (3,000 won) compared to the previous trading day, respectively.

[Decoupling of Geopolitical Risk and Gold Prices]

Meanwhile, tensions in the international financial market are rising as military clashes between the United States and Iran intensify once again. However, gold, widely regarded as a representative safe-haven asset, appears to be reacting more sensitively to international oil prices and U.S. monetary policy outlooks rather than simply rising in tandem with geopolitical risks.

The United States and Iran have recently exchanged missile and drone attacks, raising the level of confrontation. Iran has launched attacks targeting U.S.-related facilities in the Gulf region and has stated its intention to close the Strait of Hormuz again. The United States has also carried out additional strikes targeting Iranian military facilities and other sites. While President Trump has not completely ruled out the possibility of dialogue with Iran, he has indicated that the existing ceasefire has effectively ended.

[The Gold Market Where the Safe-Haven Formula Is Not Working]

Typically, when wars or military conflicts escalate, funds seeking to avoid risky assets shift into gold. Indeed, gold has long been regarded as a means to protect asset value during periods of heightened geopolitical uncertainty and financial market volatility. The World Gold Council has also cited geopolitical risks, trade uncertainty, and portfolio diversification demand as factors supporting the gold market in 2026.

However, in the recent gold market, this safe-haven formula has not been functioning in a straightforward manner.

[This article is intended to provide information about market trends and does not constitute investment advice. Investment decisions and their consequences are the sole responsibility of the investor.]