In the Korea Gold Exchange prices on September 12, 2026, the buying price of pure gold and platinum fell, while 18K and 14K remained unchanged. Silver, by contrast, rose in both buying and selling prices, moving against the trend of other precious metals.

■ Prices by Precious Metal

Pure gold (3.75g) was priced at 827,000 won for buying (change rate -0.36%), down 3,000 won from the previous day. The selling price remained unchanged at 706,000 won.

18K recorded a selling price of 519,000 won, and 14K a selling price of 402,500 won, both flat.

Platinum fell 1,000 won to 338,000 won for buying (change rate -0.3%) and 1,000 won to 274,000 won for selling (change rate -0.36%).

Silver, meanwhile, showed strength, rising 60 won to 11,680 won for buying (change rate 0.51%) and 50 won to 9,720 won for selling (change rate 0.51%).

■ ECB Moves Toward Further Tightening... An External Variable for Gold's Direction

Monetary policy moves by major countries are drawing attention as an external variable that will gauge the direction of gold prices, as the European Central Bank (ECB) has moved toward additional tightening amid continued inflation concerns.

On the 10th (local time), the ECB raised all of its key policy rates by 0.25 percentage points at its monetary policy meeting. As a result, the deposit rate rose to 2.50% per annum, while the main refinancing rate and marginal lending rate reached 2.65% and 2.90%, respectively. The new rates take effect on the 16th.

Behind this decision lies persistently stubborn price pressure. In particular, conflict in the Middle East and uncertainty surrounding energy prices are heightening inflation concerns. The ECB, keeping in mind the possibility that inflation will exceed its target level for a considerable period, is focusing its monetary policy on settling inflation at the 2% level over the medium term.

■ Eurozone Forecasts Revised Upward... "Watch Interest Rates and Prices Together"

Some changes appeared in the economic outlook. The ECB's eurozone growth forecasts for this year and next year were raised to 0.9% and 1.4%, respectively, up from the June forecasts of 0.8% and 1.2%. This year's consumer inflation forecast was maintained at 3.0%, while next year's was revised up from 2.3% to 2.5%.

The interest rate gap has also changed. With the ECB's rate hike, the gap between the deposit rate and South Korea's base rate (3.00%) widened to 0.50 percentage points. Compared with the U.S. base rate (3.50-3.75%), the gap ranges from 1.00 to 1.25 percentage points.

In the gold market, observers note that the future monetary policy directions of major countries and price trends should be watched together. With multiple variables moving simultaneously — not only interest rate levels but also energy prices and Middle East developments — attention is also focused on volatility in international gold prices.

[This article is for reference only in making investment decisions, and responsibility for investments lies with the investor.]