As of September 26, Korean time, the international gold price on the New York Mercantile Exchange (GC) stood at $4,321.20 per ounce, up $23.20 (+0.54%) from the previous day.

On the same day, domestic gold prices showed the Korea Gold Exchange quoting pure gold (3.75g) at 824,000 won for purchase and 694,000 won for sale, while GoldPrice.com listed it at 818,000 won for purchase and 718,000 won for sale.

Amid this, market attention is focused on how gold prices will move in the new week.

◆ US-Iran Negotiations Are the Biggest Variable

The state of negotiations between the United States and Iran is cited as a key variable in determining the direction of international gold prices. Depending on whether tensions in the Middle East ease, international oil prices and safe-haven sentiment could shift.

Iranian Foreign Minister Abbas Araghchi said on the 27th via Telegram that Iran is awaiting an official US response regarding its proposal to reopen the Strait of Hormuz to shipping. According to Araghchi, Iran has confirmed the US president's initial reaction but has not yet received an official position through mediating countries.

Araghchi is visiting the United States to attend the UN General Assembly and is scheduled to stay until the 30th.

◆ Trump Rejects Proposal... Negotiation Uncertainty Persists

Earlier, Iran reportedly proposed that if the United States lifts its naval blockade and returns frozen assets, and accepts conditions including a comprehensive ceasefire and sanctions exemptions for Iranian crude oil exports, shipping through the Strait of Hormuz could be normalized within a week.

However, US President Donald Trump stated on the 26th (local time) that he had rejected Iran's proposal, leaving negotiations clouded in uncertainty.

The normalization of shipping through the Strait of Hormuz is a matter that could affect international crude oil supply and energy prices. As the market's assessment of geopolitical risk may change depending on future progress in US-Iran negotiations, international gold prices are likely to react sensitively to related news.

[※ This article is provided for investment reference purposes only and does not recommend the purchase or sale of gold. Investment decisions and their consequences are the responsibility of the individual investor.]