International gold prices topped $2,700 for the first time ever

For the first time ever, the international spot gold price has surpassed $2,700 (about 3.73 million won) per ounce.

According to Bloomberg, the international gold price once reached 2,707.84 dollars per ounce in the Asian financial market on the 18th, breaking an all-time high.

The international gold price broke the highest price set the previous day in a day, AFP reported.The strong gold price

was attributed to rising tensions in the Middle East, which led to demand for gold, a safe asset.

U.S. consumption is stronger than expected and the prospect that the Federal Reserve's rate cut will be smaller than originally expected was bolstered, but it failed to dampen the rise in gold prices.Because

gold is a non-interest-bearing commodity, prices are usually under pressure in high-interest environments.

Gold prices are up about 31% this year, second only to silver (34%) among major raw materials.

The Fed's start to cut interest rates and central banks in each country's buying gold pushed up prices.