금값의 역설: 시장의 공포와 종로의 비극이 가리키는 위험한 신호 > K-wave Trends

The keyword that dominates the gold market recently is ‘downside betting.’ Experts and options traders in the global financial market are pouring out pessimistic predictions that gold prices could fall by up to 40% over the next two years. As central banks continue to raise interest rates, the attractiveness of gold as a safe asset is being halved, and cases of large-scale sales of gold holdings to secure finances, such as those in Turkiye and Gulf countries, are adding fuel to the downward trend. Technical chart analysts are also paying attention to the phenomenon of stop loss volume pouring in when major support lines are broken. In particular, the fact that put option trading volume is overwhelming call option trading volume in the options market can be seen as strong evidence that market participants are considering a further decline in gold prices as a fait accompli.

In contrast to the cold figures of the macroeconomy, horrendous crimes using gold are occurring one after another on Jongno Jewelry Street, the scene of people's lives. Recently, an incident occurred in which a gold and silver shop owner in Jongno made a sweet temptation to his customers, saying, "If you deposit your gold, we will pay you regular dividends," and then disappeared with gold jewelry and coins worth billions of won. The amount of damage has already exceeded 2 billion won, and the situation is growing rapidly, with more than 100 victims. They fell victim to a fraud scheme that went beyond simply purchasing gold and led them to perceive gold as a kind of investment product. In particular, the victims include not only regular customers but also fellow merchants within the same shopping mall, creating an unfortunate situation in which the entire commercial community based on trust is collapsing.

Behind these gold fraud cases, there is an unrealistic promise of ‘guaranteed high returns’. It is very likely that the dividends provided by a private gold and silver bank, not a normal financial institution, are in fact a typical Ponzi scheme structure in which the gold of earlier customers is returned to later customers. Nevertheless, many investors are blinded by the hope that gold prices will rise, and are showing irrational behavior by entrusting assets worth hundreds of millions of won on a simple receipt without even a contract. The Korea Gold Exchange said that the steep rise in gold prices has provided a conducive environment for fraudsters to commit fraud, and is urging extreme caution in private transactions rather than institutional financial programs. In the end, we once again confirm that what is more dangerous than the value of the real asset called gold is the evil of humans who use that value to stimulate the greed of others.

Of course, the historical value and scarcity of gold have not disappeared. A gold ring from the Roman period dating back 1,700 years, recently discovered in England, proves that gold is more than just an investment tool, it is a legacy of human history. This relic, worth 150 million won, survived the storms of time and maintained its splendor despite being buried in a muddy field. In addition, the news that Yongsu Kim of Danyang County Office won the gold medal at the Taiwan Open International Athletics Championships reminds us of the other meaning of gold, namely the value of 'best achievement' and 'glory'. In this way, gold sometimes becomes a legend of ancient Rome or a medal proving someone's sweat, but we must cool-headedly recognize that it is an illusion that can disappear like a mirage in the frenzy of speculation.