Gold prices, which had been rising steeply, have fallen nearly 10% in a month, the report showed. As.. - 매일경제

AI desk brief

Gold has retraced sharply as the market prices in further U.S. tightening: spot gold fell to $4,110.55/oz intraday and closed at $4,136.81, while KRX 99.99% gold dropped to 183,940 won/g from 203,010 won/g a month earlier. The move is being driven by stronger USD and higher U.S. yields, which reduce the appeal of non-yielding bullion; the article also notes domestic gold pricing will be affected by KRW moves as well as the international gold price.

Offsetting the price decline, WGC reported $18bn of net inflows into global gold ETFs in August, the second-largest monthly inflow on record, with ETF holdings rising 121t to 4,189t, an all-time high. WGC said the bid was supported by exchange-rate concerns, anxiety over the U.S. government bond market and tactical/institutional buying as gold broke through key technical levels.