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Gold Rush in Seoul: Political Chaos and Currency Fears Empty South Korean Vaults

South Korea is running out of gold bars. The national mint (KOMSCO) stopped sales last month because they can’t get enough raw materials. Even Seoul’s gold vending machines have sold out completely.

Why the gold rush? Retail investors are seeking safety during political chaos. President Yoon faces impeachment, and acting presidents have sparked controversy. This political turmoil coincides with Trump’s White House return and fears of new trade wars.

As the Korean won fell 11% against the dollar in late 2024, gold investment jumped 29%. Investors are abandoning South Korea’s disappointing stock market (which lost ₩224.88 billion from individual investors) in favor of gold’s better returns.

This shortage isn’t just happening in Korea. Gold is being redirected to the United States as traders prepare for Trump’s threatened tariffs on Canada and Mexico.

Gold's Purchasing Power: What One Ounce Buys Over Time
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Gold’s Purchasing Power: What One Ounce Buys Over Time

What can one ounce of gold actually buy? The answer reveals gold’s true value better than any price chart. In 1971, one ounce bought dinner for three at London’s Savoy Grill. Today, it buys dinner for fourteen. A quality suit cost one ounce in the 1920s—and still does today. Meanwhile, fiat currencies have lost 95%+ of their purchasing power. Discover the “Savoy Gold Ratio” and why gold’s consistent buying power across generations makes it essential portfolio insurance in an era of currency debasement.

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News

Gold Breaks $5,300 as Fed Meets, Dollar Craters 

Gold surged past $5,300 for the first time as the Federal Reserve begins its policy meeting amid growing dollar concerns. Silver hit $116, squeezing solar manufacturers. The dollar dropped to four-year lows on Fed independence fears. Meanwhile, Australia’s inflation is heading the opposite direction.

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Why Gold Just Hit $5,100 and Where It’s Headed Next 

Gold blasted past $5,100 per ounce, hitting an all-time high as debt crisis fears grip global markets. Silver surged to $117.69. Former Fed officials warn inflation is accelerating. The dollar is weakening. And Deutsche Bank just raised its gold target to $6,000. Here’s what’s happening.

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