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Sales of Gold Bars Soar Amid Rising Tension On Korean Peninsula

investmentwatchblog.com / BY ·

Sales of gold bars, regarded as a safe haven for investors, are increasing in South Korea amid escalating tension with North Korea, industry sources said Saturday.

The Korea Gold Exchange, a local trader, said the average daily sales of 100-gram gold bars reached 250 units since Wednesday, rising sharply from 50 units on average.

Industry watchers said the demand for smaller gold bars is increasing as they are easier to carry compared to kilo-level products. A 10-gram gold bar is currently trading at around 550,000 won (US$480), the trader added.

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