On October 21, domestic gold prices showed weakness across major gold products, including pure gold. According to GoldPrice.com (Geumsise.com), the price of pure gold (24K) per don (3.75g) was recorded at 766,000 won for purchase and 673,000 won for sale. The purchase price remained at the same level as the previous day, but the selling price fell by 4,000 won, showing a downward trend.

Gold prices of other purities also declined alongside pure gold. The 18K gold price fell by 3,000 won from the previous day to 497,000 won for sale, and the 14K gold price dropped by 2,000 won to 386,000 won for sale.

Meanwhile, platinum prices showed mixed movements. Based on one don (3.75g) of platinum, the purchase price rose by 1,000 won from the previous day to 303,000 won, while the selling price remained unchanged at 251,000 won.

■ U.S. Interest Rate Direction a Key Variable... Attention on Monetary Policy Amid Weak Housing Data

In international financial markets, the direction of U.S. interest rates is cited as one of the major variables. In particular, high mortgage rates in the U.S. housing market are acting as a factor restricting home purchase demand.

The National Association of Realtors (NAR) announced that the September pending home sales index fell 7.3% from the previous month to 66. This marks the lowest level for pending home sales since record-keeping began.

The contraction in transactions was broadly confirmed across regions. The contract decline rate in the western United States reached 9.2%, and the southern region also saw an 8.2% decrease. This is interpreted as an increase in demand postponing transactions as the cost of financing home purchases rises.

These movements in the housing market are drawing attention as a reference indicator for gauging future U.S. monetary policy. It is also worth noting that gold prices are closely tied to U.S. monetary policy.

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