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Japan: Gold prices hit record highs amid geopolitical tensions

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Shotlist FILE: Tokyo, Japan - July 12-14, 2024 (CCTV - No access Chinese mainland) 1. Various of gold bar, fine gold FILE: China - Date Unknown (CCTV - No access Chinese mainland) 2. Various of gold bars FILE: Seoul, South Korea - Sept 2025 (CCTV - No access Chinese mainland) 3. Various of gold rings for sale 4. Various of gold bars FILE: Tokyo, Japan - Sept 10, 2025 (CCTV - No access Chinese mainland) 5. Gold jewelry for sale FILE: Dubai, UAE - Sept 2025 (CCTV - No access Chinese mainland) 6. Various of counter clerks sorting gold jewelries Storyline International gold prices surged to fresh record highs on Wednesday driven by escalating geopolitical tensions, tight market supply and demand, and rising safe-haven demand. Since the beginning of this year, global gold prices have climbed more than 70 percent. On Wednesday, the most actively traded gold futures contract for February 2026 on the New York Mercantile Exchange rose 46.3 U.S. dollars to settle at 4,505.7 dollars per ounce. Meanwhile, spot gold prices in London also passed the 4,500-U.S.-dollar-per-ounce mark. Analysts said heightened geopolitical pressure stemming from tensions between the United States and Venezuela, coupled with a sustained decline in the U.S. dollar index, has provided some support to prices of dollar-denominated precious metals futures. Data show that the U.S. dollar index has fallen nearly 10 percent so far this year and may be headed for its worst annual performance since 2003.

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