According to the Korea Gold Exchange on September 30, the price of pure gold continued its upward trend, exceeding 800,000 won per don (3.75g) for purchases. Not only pure gold but also 18K and 14K gold, platinum, and silver all recorded gains in the precious metals market.

■ Pure gold at 801,000 won per don for purchase... 18K and 14K also rise

The pure gold (24K) price announced by the Korea Gold Exchange that day was 801,000 won per 3.75g (one don) for purchases, up 7,000 won (0.87%) from the previous day. The selling price was 688,000 won, up 4,000 won (0.58%) from the previous day.

The 18K gold price rose 2,900 won (0.57%) from the previous day to 505,700 won for selling, while the 14K gold price also recorded 392,200 won for selling, up 2,300 won (0.59%) from the previous day.

■ Platinum and silver also strong

Platinum rose 1,000 won (0.31%) from the previous day to 325,000 won per 3.75g for purchases, and gained 1,000 won (0.38%) to 264,000 won for selling.

Silver prices also trended upward. Silver rose 110 won (0.98%) from the previous day to 11,240 won per 3.75g for purchases, and climbed 90 won (0.96%) to 9,360 won for selling.

■ Wall Street's three major indexes fall together... gold's direction draws attention

Meanwhile, as the three major U.S. stock indexes in New York all declined, attention is also focused on the movement of gold, which is considered a representative safe-haven asset.

On September 29 (local time), the Dow Jones Industrial Average closed at 51,349.92, down 131.59 points (0.26%) from the previous session. The S&P 500 index finished at 7,670.84, down 12.85 points (0.17%), and the Nasdaq Composite closed at 26,797.54, down 22.84 points (0.09%). All three indexes posted declines of less than 0.3%.

This can be seen not as a sharp risk-off movement, but rather as a combination of a breather after recently elevated index levels and a wait-and-see stance ahead of economic data. In such a situation, the gold market may also draw attention.

■ Key variables for gold: Treasury yields and Fed monetary policy

With the stock market lacking a clear direction, U.S. Treasury yields and the Federal Reserve's (Fed) monetary policy outlook are emerging as key variables that will determine gold prices.

Gold typically sees inflows of safe-haven demand when uncertainty in financial markets expands, but it is also sensitive to movements in U.S. Treasury yields and the dollar's value. In particular, since gold is a non-interest-bearing asset, its relative investment appeal may diminish if U.S. Treasury yields remain at high levels. Conversely, if expectations of rate cuts strengthen or expectations of Fed monetary easing expand, a favorable environment for gold prices could form.

Market attention is turning to U.S. economic indicators and the Fed's future rate path. If economic and inflation indicators deviate significantly from market expectations, Treasury yields and the dollar could shift, potentially increasing volatility in gold as well.

It is also worth noting that although the New York stock market fell across the board, the declines themselves were not large. For now, rather than concluding this is a full-blown risk-off market, it should be viewed as a process of searching for the direction of capital flows among stocks, bonds, the dollar, and gold.

Going forward, key points to watch in the gold market are expected to include not only whether the New York stock market sees further corrections, but also U.S. Treasury yields and dollar movements, comments from Fed officials, and major inflation and employment indicators.

[※ This article is provided for investment reference purposes only and does not recommend buying or selling. Investment decisions and any resulting responsibility rest with the investor.]