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As Gold Prices Hit Record Highs, Seoul’s Jewelry District Sees a Winter Rush
['Korea Bizwire']
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SEOUL, Jan. 29 (Korea Bizwire) — On a bitterly cold January afternoon in central Seoul, the narrow corridors of Jongno’s famed jewelry district were unusually warm — not from heaters, but from the steady flow of customers drawn by soaring gold prices.
Gold prices in South Korea have climbed to historic highs, with pure gold priced at 1.034 million won for 3.75 grams — known locally as one don — fueling a surge of visitors eager to cash in on items long stored away at home.
Customers moved from store to store comparing quotes, sellers hoping to squeeze out a little more value, buyers searching for even a modest discount.
“Even in Jongno, every shop values gold differently.”For some, the visit carried emotional meaning as well as financial calculation.
“Coming here finally feels like clearing my mind.”Rising gold prices have also redirected demand toward silver, which remains comparatively affordable.