August 11 Precious Metal Prices: Pure Gold, 18K, 14K, Platinum, and Silver All Rise

According to the Korea Gold Exchange prices on August 11, 2026, precious metals showed broad strength overall.

Pure Gold (3.75g) recorded a buying price of 881,000 KRW (change rate 1.14%, +10,000 KRW from the previous day) and a selling price of 727,000 KRW (change rate 0.96%, +7,000 KRW). 18K rose to a selling price of 534,400 KRW (0.97%, +5,200 KRW), and 14K rose to a selling price of 414,400 KRW (0.97%, +4,000 KRW).

Platinum also trended upward. It showed a buying price of 349,000 KRW (0.29%, +1,000 KRW) and a selling price of 283,000 KRW (0.35%, +1,000 KRW). Silver recorded the highest change rate, with a buying price of 12,420 KRW (2.25%, +280 KRW) and a selling price of 10,490 KRW (2.19%, +230 KRW).

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International Gold Price Recovers the $4,400 Level

In the international gold market, gold prices are once again showing a strong trend, drawing attention. As the U.S. stock market takes a breather near all-time highs, the role of gold as a safe-haven asset is being re-evaluated amid a complex interplay of Middle East tensions, international oil prices, U.S. Treasury yields, and dollar movements.

On the 11st, gold prices in the international market were hovering around $4,400 per troy ounce, reaching as high as $4,443 during the session. The upward trend continued from the previous day (the 10th). However, price differences may occur depending on the trading market, timing, and whether it is spot or futures trading.

Speed of Recovery Is the Market's Key Focus

According to LBMA data, the gold price surged to an intraday high of $5,501.70 on January 29 this year before undergoing a significant correction, dropping to $4,026.05 by the end of June. This represented a decline of approximately 27% from the peak. Subsequently, the price recovered the $4,000 level and recently climbed back to the $4,300–$4,400 range, intensifying the tug-of-war between buyers and sellers.

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Two Key Variables Moving Gold Prices

1. U.S. Interest Rates and the Dollar

Because gold is an asset that does not generate its own cash flow, it is closely linked to U.S. Treasury yields. When Treasury yields rise, the opportunity cost of holding gold increases; conversely, when expectations of rate cuts strengthen, a favorable environment for gold is created.

Indeed, on the 5th, the spot gold price rose to $4,253.36 due to the impact of falling U.S. Treasury yields, recording an intraday level of $4,264.93. This was the highest level in about seven weeks.

Going forward, if U.S. inflation indicators come in higher than expected, expectations for rate cuts may weaken, which could pose a burden for gold. Conversely, if inflationary pressures ease and signs of economic slowdown strengthen, falling Treasury yields and a weaker dollar could serve as catalysts for gold price increases.

2. The Two-Sided Nature of Middle East Tensions and International Oil Prices

Middle East tensions have traditionally been a factor that adds a safe-haven premium to gold. Estimates also indicated that Brent crude exceeded $84 per barrel on the 10th.

However, the current situation is not straightforward. If Middle East tensions drive oil prices significantly higher, it could stimulate U.S. inflation, leading to rising Treasury yields, which in turn could act as a burden on gold. Last month, there was a case where energy price increases due to Middle East conflicts fueled inflation concerns and rate expectations, pushing gold prices down.

In other words, this is a phase where the formula 'expanding war risk = unconditional rise in gold prices' does not apply. The force of Middle East tensions stimulating safe-haven demand and the force of rising oil prices pulling up inflation and rates to pressure gold are simultaneously at work.

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The Historical Context of Gold: Why Gold During Every Crisis

The reason gold returns to the center of the market during every crisis lies in thousands of years of historical background. Thanks to its characteristics—it does not easily corrode, its supply is limited, and it can store high value in small quantities—it has been a symbol of currency and wealth since ancient times.

Modern Institutionalization — The Gold Standard and the Bretton Woods System

According to the World Gold Council, under the classical gold standard, most countries fixed the value of their currency to a specific amount of gold. Although the system was shaken by two World Wars, the launch of the Bretton Woods system in 1944 created a structure in which the dollar was linked to gold at $35 per troy ounce, and the currencies of major countries were pegged to the dollar.

In 1971, when the United States suspended the convertibility of the dollar into gold, the direct link between gold and the dollar was severed, and the World Gold Council uses 1971 as a critical turning point in long-term analysis.

Even After Retiring as Currency, It Remains the 'Ultimate Store of Value'

Paradoxically, even after stepping down from its role as official currency, gold has remained the 'ultimate store of value' for central banks and investors. During every major economic shock—the oil shocks of the 1970s, the 2008 global financial crisis, and the massive liquidity injections following the COVID-19 pandemic—gold has emerged as a key asset of interest.

Recently, structural purchases by central banks have also become an important variable. According to the World Gold Council, central banks around the world have purchased more than 1,000 tons of gold annually in recent years, a significant change compared to the previous decade's annual average of 400–500 tons.

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Future Gold Price Outlook: What to Watch

Gold has transitioned from being 'money itself' in the past to a global investment asset that now competes with the dollar, Treasuries, stocks, and virtual assets. Nevertheless, the fact that it does not directly depend on national credit or the performance of a specific company remains its core differentiator.

Upward Pressure Factors: Increased volatility in the New York stock market and a simultaneous decline in the dollar and Treasury yields could lead to capital inflows. Geopolitically driven oil price increases could also stimulate safe-haven demand.

Downward Pressure Factors: Easing of Middle East tensions and stabilization of international oil prices could weaken safe-haven preference. If rising oil prices lead to inflation and rate hikes, it would be negative for gold.

Ultimately, rather than the rise in oil prices itself, what matters more is how it changes the outlook for U.S. inflation and the Federal Reserve's monetary policy.

What is important in the current market is not simply whether gold prices exceed $4,400. Whether Middle East tensions persist, the impact of international oil prices on inflation, the direction of U.S. Treasury yields, and expectations for Federal Reserve monetary policy are the core variables that will determine gold's next direction.

The 2026 gold market is situated on the continuum of thousands of years of history.

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