Gold prices fall amid US-Iran tensions... International situation changes are the core variable

Due to changes in the international situation, gold prices have experienced unexpected fluctuations. Recently, news of a preemptive strike by the U.S. against Iran and the subsequent outbreak of war have caused significant market shocks. The surge in gold prices has reversed, returning to pre-war levels.

According to data from the Korea Exchange on the 17th, the domestic gold price on the KRX Gold Market closed at 239,550 won per gram, showing a decline compared to the early stages of the conflict. Meanwhile, international gold prices also experienced significant volatility, rising from $5,193.39 per ounce on the 27th of last month to a peak of $5,380.11 after the war, but have now fallen back to $5,011.95. This decline is believed to be the result of multiple factors, including rising international oil prices causing inflationary pressures and concerns over Federal Reserve interest rate policies.

It is noteworthy that Iran has adopted a selective control strategy over the Strait of Hormuz rather than a complete blockade, rekindling hopes of avoiding the worst-case scenario. This positive sign has influenced financial markets, with analysts suggesting that the initial risk-averse preference for gold as a safe-haven asset, driven by uncertainty at the start of the conflict, has begun to adjust.

Meanwhile, U.S. President Donald Trump has called on allied nations to strengthen their military presence in the Strait of Hormuz amid the turbulent Middle East situation. This move is interpreted as an effort to reduce international oil price volatility and ease political uncertainties. He has directly urged countries like South Korea, China, and Japan to send warships, emphasizing the importance of international cooperation.

The future trend of gold prices will largely depend on changes in the international situation, especially developments related to Iran and the U.S. in the Middle East. Additionally, the interest rate policies of the Federal Reserve and major central banks are expected to be key variables. These complex factors are anticipated to continue influencing gold prices.