https://www.koreaherald.com/article/10421915
A sharp surge in demand for gold has raised the “kimchi premium” on the price of the safe-haven asset, driving the gap between gold prices in South Korea and international markets to over 20 percent.
While the term “kimchi premium” has been mostly used recently to refer to price gaps in cryptocurrencies, now even gold has become subject to the phenomenon, as local investors flock to the asset to hedge against fears of trade wars and geopolitical uncertainty sparked by US President Donald Trump.
The spot price of a 1-kilogram gold bar stood at 168,200 won ($117) per gram at around 1 p.m. on Friday on the KRX Gold Market. The Korea Exchange operates the gold bourse, where the precious metal is traded like an equity.
At the same time, the LBMA Gold Fixing price, operated by the London Bullion Market Association, was 135,000 won per gram, showing a price gap of over 24 percent. The KRX uses the price offered by the LBMA, the leading authority on gold and silver markets, as its indicator of the international price of gold.
TBH. Anyone who hasn’t drank the Media/Banking kool-aid knows something is coming with the financial system. The only question really is when.
Well, there ARE other questions: WHAT, exactly, will it be that happens? What will the details be, and what will the knock-on effects in various systems be like, in what order, and so on.
The REAL question is: what's Pelosi doing with this?
They probably want to end their central bank.
https://econanalytics.substack.com/p/non-bank-gold-buyers-emerge-driving
Here is my favorite metal guy,I've been reading his stuff for years.
I think everyone is just Hedging their bets....
Yes, the Whole World knows something is coming, but until it happens, nobody really knows for sure exactly What It Is, an I think SK is just working in the direction of setting themselves up so they can do business in a friendlier environment for them....
I'm sure they aren't the only ones doing this, especially with America having already sent out word of Tariffs, so grab Gold by the Ton, and maybe shave a point or two off the Tariffs....