Gold and silver surge, Korea Composite Stock Price Index hits a new high

K-LinePoet · 2026-02-23T07:59:20+00:00

February 23rd, gold and silver both opened higher.08:03The Korea Composite Stock Price Index (KOSPI) rose by 2% to 5925.54 points, reaching a new all-time high. Samsung Electronics' stock price increased by over 3%.07:57Spot gold rose more than 1% intraday, breaking through $5160 per ounce. Spot gold increased by 2.94%, temporarily rising over 3%.New York futures silver gained nearly 5% intraday, while New York futures gold rose over 1.7%.07:47Spot gold increased nearly 1% intraday, trading at $5157.499 per ounce. Spot silver rose over 2.4%, and New York futures silver increased by 4.63%.07:27Spot silver's intraday gain expanded to 2.07%, trading at $86.316 per ounce. New York futures silver surpassed $86 per ounce, up over 4% intraday. New York futures gold increased by 1.62% intraday.

K-LinePoet

2026-02-23 07:59:20

On February 23, gold and silver prices both surged at the opening.

08:03

The Korea Composite Stock Price Index (KOSPI) rose by 2% to 5,925.54 points, reaching a new all-time high. Samsung Electronics’ stock price increased by over 3%.

07:57

Spot gold rose more than 1% intraday, breaking through $5,160 per ounce. Spot gold increased by 2.94%, at one point rising over 3%.

NY silver futures gained nearly 5% intraday, while NY gold futures rose over 1.7%.

07:47

Spot gold increased nearly 1% intraday, trading at $5,157.499 per ounce. Spot silver rose over 2.4%, and NY silver futures increased by 4.63%.

07:27

Spot silver’s intraday gain expanded to 2.07%, trading at $86.316 per ounce. NY silver futures surpassed $86 per ounce, up over 4% intraday. NY gold futures increased by 1.62% intraday.

07:15

As of 7:15, spot gold was at $5,148.75 per ounce, up 0.74% for the day.

London silver rose nearly 2% intraday.

Looking ahead to gold’s future trend, ANZ Bank predicts that gold prices will reach $5,800 per ounce in the second quarter of this year. UBS’s more aggressive forecast suggests that the highest point mid-year could hit $6,200 per ounce, driven mainly by central bank and investment demand, expanding fiscal deficits, declining real U.S. interest rates, and geopolitical risks.

Jefferies has raised its 2026 gold price forecast from $4,200 to $5,000, noting that amid inflation and dollar depreciation, investors and central banks “effectively have only one choice—hard assets.”

According to the Daily Economic News, “Doomsday Doctor” Peter Schiff predicts gold will surge to $7,000, replacing the dollar as the new anchor asset. The driving forces behind this are central banks worldwide increasing gold holdings, expanding U.S. fiscal deficits, and more. He believes that the surge in gold prices signals that the U.S. will face a crisis far beyond 2008, stemming from sovereign credit, U.S. debt, and dollar crises resonating together. Additionally, he claims that the new Federal Reserve chair may become a puppet of Trump, considers cryptocurrencies a Ponzi scheme, and advises investors to continue increasing their holdings of gold and silver.

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