Korea Gold Exchange, 'Gold Trading Explosion' Set to Break Record High Sales

[Asia Economy Reporter Lim Jeong-su] It was announced on the 7th that 3M Korea Gold Exchange Co., Ltd., the largest precious metals specialist company in Korea affiliated with the ITCEN Group, is expected to have recorded its highest-ever performance last year.

According to Korea Gold Exchange, the company's sales revenue up to the third quarter of last year reached approximately 1.3 trillion KRW, already surpassing the 2019 sales revenue. The sales revenue in the fourth quarter also remained solid, so last year's sales are expected to increase significantly.

The COVID-19 pandemic rather acted as a positive factor for performance improvement. As global economic uncertainty increased, governments worldwide supplied unprecedented liquidity, and investment preference for gold and silver, the safest assets, rose, leading to price increases and higher trading volumes.

Last year, gold prices rose by 25%, and silver prices surged by 48%, showing the highest returns. During the same period, the circulating volume reached 23.3 tons for gold and 110 tons for silver. The Gold Exchange analyzed that especially as consumers preferred non-face-to-face transactions, trading through online platforms such as 'Sengold' and 'Geumbanggeumbang' increased significantly.

A representative from the Gold Exchange said, "This year as well, additional stimulus measures by various countries and the Green New Deal will continue to create a favorable atmosphere for the rise in gold and silver prices," adding, "As investment sentiment toward safe assets grows, the sales growth trend is expected to continue."

This content was produced with the assistance of AI translation services.