Soaring Gold Prices Shift Perception: From Traditional Gift to Investment Asset
In South Korea, gold holds deep roots in daily life and history. People give gold as a sign of luck at events like the dol, a baby’s 100-day celebration. Now, high gold prices change its face. Gold is used less as a kind gift and more as a way to save money.
A Tradition Under Stress
Min Da-young, a mother in Seoul, faces a hard choice. Gold jewelry was given during her son’s dol celebration. She now weighs the memory it brings against the chance to earn from high market prices. "Gold gifts carry love, but I see profit in today’s price," she said. She also thinks about giving gold to her younger sister’s child, though high costs make it hard.
This choice mirrors a growing trend. Jewelry shops in Jongno, the busy center for gold items, note that many now sell old gold pieces or buy gold bars. Special events still see gold gifts; yet, people now spend less than before.
The Fast Rise of Gold Prices
Prices for pure gold, measured in 3.75-gram units, jumped nearly 70.3 percent in 2025. They rose from 533,000 won at the start to 908,000 won ($630) today. Experts hint that soon a unit may cost more than 1 million won.
This trend is found on other shores too. In New York, gold’s price climbed 70.6 percent over the year. Today, the cost tops $4,505.70 per ounce as many turn to gold.
What Drives the Demand
Global forces push more people toward gold. The U.S. dollar has lost strength and fell by over 10 percent. A weak dollar makes gold a more safe place to park money.
Conflicts such as the war in Ukraine and old global struggles add to gold’s pull. In rough times, people turn gold heirlooms like old rings or antique hairpins into cash or bullion.
Shifts in Consumer Ways and Business Acts
Many now see gold as a safe store of cash. Choi Chul, a professor at Sookmyung Women’s University, says, "More buyers now look at gold as a safe asset. Its small size and steady role keep its demand high." At the same time, gold given as gifts or awards in companies is on the decline. The amount of gold used for these events is smaller than in the past.
Culture and Money in Change
Rising gold prices mix old customs with new money needs. Gold now shows both a warm memory and a clear cash store. Its twin roles spark talks about the best ways to use it. The old spirit and new market forces push families and businesses to choose between keeping traditions and seeking gain.
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📝 About This Article
This article was generated by Hivebox AI
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