2023-01-25 22:23:54

Gold price hits record highs in Japan, eyes on other currencies

Logo Kitco NEWS
Kitco NEWS
By Anna Golubova

(Kitco News) Gold priced in Japanese yen traded at record-high levels in Japan Wednesday, according to local prices and media reports.

The precious metal reached a new record high of 8,977 yen (USD $69.28) per gram, which was higher than the previous record of 8,969 yen (USD $69.22) per gram seen in April 2022, Jiji Press reported citing prices at a major precious metals seller Tanaka Kikinzoku Kogyo K.K.

Market analysts see recession fears and concerns around inflation as the key triggers driving demand.

Spot gold priced in yen per ounce is currently trading very close to record high levels seen in April 2022. In April of last year, spot gold priced in Japanese yen was at a record high of above 254,220 yen (USD $1,962) an ounce. On Wednesday, the highest level reached in spot prices was 252,600 yen (USD $1,950) an ounce.

In the meantime, the Japanese yen has been attracting some investor flows versus the U.S. dollar on recession fears and markets looking for the Federal Reserve to pause its historic monetary policy tightening cycle. The USD/JPY pair was last trading below the ¥130 level.

Continue read on kitco.com

Logo Kitco NEWS
EconomyBy Anna Golubova2023-01-25 19:35:23
(Kitco News) Citic Securities - China's biggest publicly traded brokerage - is looking at gold hitting record highs this year, citing central banks' gold...

Logo Kitco NEWS
EconomyBy Cornelius Christian2023-01-25 18:51:27
( Kitco News ) - Gold, which has been trading up for 2023 and is currently at around $1,930 per ounce, will reverse the trend and have a dramatic decline as...

Logo Kitco NEWS
EconomyBy Kitco News2023-01-25 21:02:04
Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and...

Logo Kitco NEWS
EconomyBy Neils Christensen2023-01-24 20:43:13
Welcome to Kitco News' 2023 Outlook Series. Uncertainty continues to dominate financial markets as central bank monetary policies push the global economy...

Logo Kitco NEWS
EconomyBy Neils Christensen2023-01-24 14:51:16
Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and...

Logo Kitco NEWS
EconomyBy Anna Golubova2023-01-24 22:34:31
(Kitco News) China imported more gold from Switzerland last year and stepped up gold purchases from Russia, according to the latest import data releases....

Logo Channel NewsAsia
Business / FinanceBy Cna2023-01-25 02:52:08
Best News Website or Mobile Service WAN-IFRA Digital Media Awards Worldwide Best News Website or Mobile Service Digital Media Awards Worldwide SINGAPORE :...

Logo Kitco NEWS
EconomyBy Jim Wyckoff2023-01-25 12:57:58
Welcome to Kitco News' 2023 Outlook Series. Uncertainty continues to dominate financial markets as central bank monetary policies push the global economy...

Logo Kitco NEWS
EconomyBy Jim Wyckoff2023-01-24 13:24:33
Welcome to Kitco News' 2023 Outlook Series. Uncertainty continues to dominate financial markets as central bank monetary policies push the global economy...

Logo RTTNews
EconomyBy Rtt News Staff Writer2023-01-25 02:16:54
The Japanese stock market is slightly lower on Wednesday, giving up some of the gains in the previous three sessions, with the Nikkei 225 staying below the...

Logo RTTNews
EconomyBy Rtt News Staff Writer2023-01-25 08:21:57
Asian stocks rose broadly on Wednesday amid expectations that the U.S. Federal Reserve could ease the pace of rate increases, citing slowing wage and...

Logo Kitco NEWS
EconomyBy Anna Golubova2023-01-20 19:27:12
(Kitco News) Gold's January rally took prices to nine-month highs Friday, with the precious metal up more than 5% since the start of the year. But industry...

Logo Benzinga
Business / FinanceBy Pr Newswire2023-01-25 11:00:00
ACHIEVES 2022 REVISED GUIDANCE (In US Dollars unless otherwise stated) TORONTO, Jan. 25, 2023 /PRNewswire/ - Superior Gold Inc. ("Superior Gold" or the...

Logo RTTNews
EconomyBy Rtt News Staff Writer2023-01-25 06:13:50
Japan's leading index decreased more than initially estimated in November to the lowest level in nearly two years, final figures from a survey by the Cabinet...

Logo Kitco NEWS
EconomyBy Jim Wyckoff2023-01-24 17:08:11
Welcome to Kitco News' 2023 Outlook Series. Uncertainty continues to dominate financial markets as central bank monetary policies push the global economy...

Logo Kitco NEWS
EconomyBy Jim Wyckoff2023-01-25 17:35:14
Welcome to Kitco News' 2023 Outlook Series. Uncertainty continues to dominate financial markets as central bank monetary policies push the global economy...

Logo Channel NewsAsia
Business / FinanceBy Cna2023-01-24 02:37:46
Best News Website or Mobile Service WAN-IFRA Digital Media Awards Worldwide Best News Website or Mobile Service Digital Media Awards Worldwide TOKYO : The...

Logo Channel NewsAsia
Business / FinanceBy Cna2023-01-25 01:44:48
Best News Website or Mobile Service WAN-IFRA Digital Media Awards Worldwide Best News Website or Mobile Service Digital Media Awards Worldwide SINGAPORE :...

Logo Kitco NEWS
EconomyBy Jordan Finneseth2023-01-25 21:58:59
Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and...

Logo PR Newswire
ACHIEVES 2022 REVISED GUIDANCE (In US Dollars unless otherwise stated) TORONTO, Jan. 25, 2023 /PRNewswire/ - Superior Gold Inc. ("Superior Gold" or the...