AKARTA – The outbreak of recent gold prices has threatened a growing tradition in South Korea.
An, in Georgia, the gold ring has a deep meaning, traditionally given by his family or friends to pray for the health and happiness of the baby during their first birthday.
An in gold would also be a net of financial insurance in the future, which could be sold in time of difficulty.
INA writes: “My son received a gold ring during his first birthday in 2015. This year, my friend’s son is a year old, and I cannot ignore how high the price of gold is high,” said a 30 -year -old woman, who asked to be identified as Min, as the Korea Times reported on May 1.
“Since I received the ring, I have felt worried. Should I continue the tradition and give the gold ring, or rather give money? »»
Granting a gold ring to the baby’s first anniversary stems from Chinese immigrants arriving in Korea under the Joseon dynasty. It is believed that gold can overcome bad luck and, thanks to its sustainable value, symbolizes investment for the future of children.
renal. Gold also had a historically important meaning in the Korean economy. During the 1997 Asian financial crisis, many families gave their precious gold rings to national gold collection campaigns to help stabilize the economy.
the public finger stems from an unprecedented increase in the price of gold. Since the beginning of the year, the price of gold on the SPT market has jumped by almost 30%, reaching a summit of 3,500 US dollars per Once.
Renal: Demand has increased globally, triggered by prices and geopolitical tensions that have started from US President Donald Trump in power.
Castic: in Korea, the increase is even more pronounced. In February, what is called “Kimchi Premium” – where the interior price of gold exceeds the international price – reached around 20%.
-Celler or belt of gold of the same weight generally costs more due to additional work costs and value added tax.
Including the additional cost of jewelry, the golden ring of a donation for the baby’s first anniversary now exceeds 700,000 won.
South Korean rique “Currently, most people choose a golden alliance with half donation (traditional South Korean gold unit weighing 3.75 grams) instead of a complete valuation. Even those who have a previous birthday alliance plan to sell it, “said a owner of a jewelry store in the Jongno district, in Seoul.
“It is worrying because the manufacturing cost is our main source of income,” he said.
Rique: Another factor that reconstructs tradition is the movement towards a little birthday party and has not participated only by families.
Renal: In the past, the baby’s first anniversary was marked by a very important meeting – a celebration to survive at a time when the baby mortality rate is high. However, today, with the increase in health care and changes in social values, such as the drop in maritages and births, the celebration becomes simpler.
market rons provides that the price of gold will continue to increase. JP Morgan even plans that the price of gold could exceed 4,000 US dollars per ounce due to concerns of stagnation.
renal. Many turn to alternatives. One of the trends that are emerging is the 1 gram gold ring, which is a price similar to the ring of one kilogram of ten years ago, as well as mini-bulle gold available at various prices.
Restling the golden alliance for a Dong is difficult at the moment, “said an online user on a community forum for mothers in the province of Gyeonggi. “It is better to give something practical and not weigh the two parties. »»
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