According to Gold Price Dot Com's tally on October 17, pure gold (24K) per don (3.75g) is priced at 788,000 won for purchase and 685,000 won for sale. The purchase price rose 7,000 won from the previous day, while the selling price remained flat.

[October 17 Precious Metals Market Trends]

The 18K gold price for sale stood at 506,000 won, unchanged from the previous day, and the 14K gold price for sale also held steady at 393,000 won with no price movement.

Platinum showed an upward trend. Per don (3.75g), it was priced at 306,000 won for purchase and 254,000 won for sale, with both prices jumping 6,000 won from the previous day.

Silver prices also rose. Silver per don (3.75g) was recorded at 10,200 won for purchase and 9,700 won for sale. The purchase price rose 300 won and the selling price rose 50 won from the previous day, respectively.

[NY Stock Markets Fall Across the Board... AI Debt Concerns and Oil Price Surge Weigh]

Behind the market's focus on gold prices lies the joint decline of U.S. stock markets. On the 16th (local time), major indices of the New York Stock Exchange closed lower across the board due to concerns over debt at companies investing in artificial intelligence (AI) infrastructure and the effects of a surge in international oil prices.

In particular, as selling spread centering on AI and semiconductor-related stocks, the tech-heavy NASDAQ Composite Index fell more than 2%. On the New York Stock Exchange (NYSE), the Dow Jones Industrial Average finished trading at 52,002.41, down 175.28 points (0.34%) from the previous session. The Standard & Poor's (S&P) 500 Index closed at 7,659.44, down 84.62 points (1.09%), and the NASDAQ Composite Index ended trading at 26,140.03, down 572.99 points (2.15%).

The decline in NY markets that day is interpreted as the result of inflation pressure from surging oil prices coinciding with shrinking investor sentiment, amid concerns over the burden of massive investments in the AI industry and corporate debt. The expansion of selling in tech stocks weakened investment sentiment toward risky assets, and vigilance over volatility in global financial markets also increased.

[Gold as a Safe Asset Draws 'Attention'... Volatility Variables Remain]

With major U.S. stock market indices falling together, market interest in gold, a representative safe asset, is expected to continue. Generally, when uncertainty in the stock market grows, gold draws attention as an investment tool for defending asset value.

However, inflation concerns from rising international oil prices, U.S. interest rate outlook, and dollar movements are cited as factors that could increase volatility in gold prices going forward.

[This article is by no means an investment recommendation. The content may merely be opinion, so please do not use it as a reference for investment or reflect it as material. All investments are made by each individual's own judgment, and the final responsibility lies with the investor. This publication assumes no responsibility whatsoever.]