On July 24, according to the Korea Gold Exchange, the buy price (when purchasing) for silver (Silver, 3.75g) was recorded at 12,290 won, and the sell price (when selling) at 9,540 won. Compared to the previous day, the purchase price fell by 260 won (2.3%), and the selling price also dropped by 220 won (2.31%).

Since silver prices are simultaneously influenced by safe-haven demand and industrial needs, investors should keep a close watch on changes in the volatility of the international commodities market. In particular, geopolitical tensions in the Middle East have recently escalated, causing international oil prices to surge and increasing uncertainty across the broader global financial market.

On July 23 (local time), September Brent crude futures on the ICE Futures Exchange recorded 100.69 dollars per barrel, surging 7.04% from the previous session to breach the 100-dollar mark again for the first time in about two months. On the same day, September West Texas Intermediate (WTI) crude futures traded on the New York Mercantile Exchange (NYMEX) also climbed 6.17% to 92.19 dollars per barrel.

The rise in international oil prices is cited as a key variable that could reignite inflation concerns. Accordingly, analyses suggest that the future direction of U.S. interest rates, the trend of the dollar, and global economic conditions are likely to impact silver prices as well.

[This article is not intended to solicit investment. The final judgment and responsibility for all investments lie with the investor.]