Japanese gold price breaks 15,000 yen/gram for the first time

Affected by the tense situation in the Middle East and the depreciation of the Japanese yen, the retail price of gold in Japan broke through 15,000 yen per gram for the first time on Wednesday. The price of gold from Tokyo precious metals retailer Tanaka Kikinzoku Kogyo rose by 173 yen compared to Tuesday, reaching 15,104 yen per gram. The conflict between Israel and Hamas has intensified geopolitical risks in the Middle East. An expert stated that concerns about political uncertainty after the U.S. presidential election next week are also one of the reasons people are buying gold. Gold futures prices also rose on Wednesday, pushing the key contract for delivery in October 2025 on the Osaka Exchange to a record high. A commodity analyst mentioned, "Gold prices are expected to remain strong as there are no bearish factors in the near term."