Shotlist FILE: Istanbul, Türkiye - April 5, 2024 1. Various of gold bars, gold coins FILE: Tokyo, Japan - July 12-14, 2024 2. Various of gold bar, fine gold FILE: China - Date Unknown 3. Various of gold bars FILE: Seoul, South Korea - Sept 2025 4. Various of gold rings for sale 5. Various of gold bars FILE: Beijing, China - Sept 4, 2025 6. Various of customers shopping for gold jewelry FILE: Tokyo, Japan - Sept 10, 2025 7. Salesperson talking with customer at jewelry store 8. Gold jewelry for sale FILE: Dubai, UAE - Sept 2025 9. Various of counter clerks sorting gold jewelries Storyline Gold futures and spot prices surged to record levels this week, driven by rising geopolitical tensions and expectations of a U.S. Federal Reserve rate cut. Gold prices on the New York Mercantile Exchange (NYMEX) reached new historic highs on Sunday. The most actively traded February 2026 gold futures contract briefly surpassed 4,430 U.S. dollars per ounce during intraday trading. In London, spot gold prices also broke records, crossing the 4,400 U.S. dollars per ounce mark on Monday local time. According to U.S. media reports, the sharp rally in gold is mainly attributed to intensifying geopolitical tensions and growing market expectations of further interest rate cuts by the Federal Reserve. [Restrictions: No access Chinese mainland]