According to the Korea Gold Exchange on September 22, gold prices showed an overall decline that day.

Pure Gold, 18K, 14K, Platinum, and Silver All Fall Together

The pure gold price (Gold24k-3.75g) fell 1.07% from the previous day to 840,000 won for purchases, down 9,000 won. The selling price dropped 0.42% to 707,000 won, down 3,000 won.

The 18K gold price (Gold18k-3.75g) fell 0.42%, or 2,200 won, to 519,700 won when selling, and the 14K gold price (Gold14k-3.75g) dropped 0.42%, or 1,700 won, to 403,000 won when selling.

The platinum price (Platinum-3.75g) fell 0.29%, or 1,000 won, from the previous day to 345,000 won for purchases. The selling price dropped 0.36%, or 1,000 won, to 280,000 won. The silver price (Silver-3.75g) fell 0.41%, or 50 won, to 12,220 won for purchases, and declined 0.39%, or 40 won, to 10,170 won when selling.

Nasdaq Hits Record High... AI Stock Market Strength Drags Gold Down

Gold prices fell amid a strong risk-on sentiment in the New York stock market and caution over U.S. monetary policy. As artificial intelligence (AI)-related stocks once again led the market rally, the flow of funds toward gold, a safe-haven asset, appears to be shifting.

On the 21st (local time), gold futures moved around the $4,300-per-ounce level at the New York Mercantile Exchange.

In overnight trading on the New York Stock Exchange, the Nasdaq Composite closed at 27,122.09, up 599.55 points (2.26%) from the previous session, setting a new all-time closing high. The S&P 500 index rose 114.20 points (1.49%) to 7,764.70, and the Dow Jones Industrial Average finished the session up 366.19 points (0.71%) at 52,048.83.

In particular, AI and semiconductor stocks stood at the center of the market. AMD surged about 10%, reaching a market capitalization of $1 trillion for the first time, while Intel climbed 12.2% and Arm jumped 17%. The Philadelphia Semiconductor Index soared 4.3%, and Meta also rose more than 11%.

As market sentiment surrounding AI tilts back toward optimism, the strengthened preference for risky assets such as stocks could weigh on gold in the short term.

Fed Monetary Policy and Strong Dollar Pressure Gold Prices

Indeed, the U.S. Federal Reserve's monetary policy has recently emerged as a key variable in the gold market. Some analysts say the possibility of further tightening by the Fed and a stronger dollar are acting as factors pressuring gold prices.

However, it is difficult to judge the environment surrounding gold solely by stock market strength. Alongside the New York market rally, the U.S. 10-year Treasury yield fell below 5%. Generally, a decline in market interest rates can reduce the relative burden of gold, which pays no interest. On the other hand, expanded risk appetite can weaken safe-haven demand, so different variables are intertwined.

AI Safety Debate Is Also a Variable... Nvidia CEO Jensen Huang's Position

The debate surrounding the AI industry is also a variable. Recently, opinions have been divided within the AI industry over the pace of technological development and safety concerns. There is a clash between the argument that development should be slowed to establish safeguards as AI capabilities rapidly expand, and the position that technological advancement itself must not be delayed even while ensuring safety.

Nvidia CEO Jensen Huang opposed extreme forecasts that AI would bring about humanity's doom, stating that the deployment of safe products and services is directly linked to a company's success.

Key Variables for Gold Prices Ahead: Fed Rate Path and Dollar Direction

For now, as expectations for AI investment regain momentum, strong risk appetite has appeared in the stock market. However, in the gold market, the Fed's rate path, the dollar, U.S. Treasury yields, and Middle East developments are all simultaneously acting as price variables.

In particular, with gold moving in the mid-$4,300-per-ounce range following its recent rise, U.S. interest rate outlook and the dollar's direction are expected to draw renewed attention.

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