With international spot gold prices reaching a record high of 3,200 U.S. dollars per ounce, yuan-denominated gold futures and spot prices in China surged on Friday, pushing the price of pure gold jewelry above 1,000 yuan (about 136.71 U.S. dollars) per gram.
Data show that the spot gold price on the Shanghai Gold Exchange rose by more than 2.8 percent to 760 yuan per gram during the day, while the dominant gold futures contract on the Shanghai Futures Exchange hit a record high of 763 yuan per gram, up more than 3 percent.
In the retail market, the price of solid gold jewelry increased from 918 yuan per gram on Monday to 990 yuan per gram, marking a 7.8 percent rise for the week.
Qu Rui, deputy director of the Research and Development Department at Golden Credit Rating International Company, said that due to the impact of U.S. tariff policies, international trade policies remain quite uncertain, the U.S. dollar index has plummeted, and risk-off sentiment prevails – all of which provide strong support for gold prices.
After rising more than 27 percent in 2024, domestic gold prices in China have surged over 23 percent so far this year.
Gold prices hit new record amid sweeping US tariffs
Gold prices hit new record amid sweeping US tariffs
Gold prices hit new record amid sweeping US tariffs
The Iranian government is focusing on public concerns and maintaining stable supplies of essential goods amid recent protests, Iranian President Masoud Pezeshkian said in a televised interview on Sunday.
In the city of Karaj, northwest of the capital Tehran, daily life has largely continued as normal. A video filmed by a local resident on Sunday shows food stores open and grocery shelves fully stocked.
"This is the block near my home, and there are some food stores here. Daily life continues here. Last night we did not see many protests in Karaj. Right now the city is very safe. This is a grocery store close to my home. All the food is available; nothing is in shortage. Here are noodles and different types of beans. Here are dairy products, cheese, and yogurt. I also checked other grocery stores and didn't see any shortages. Everything is available," said local resident Ali Reza.
Iranian officials have described recent disturbances as acts orchestrated by the "enemy," including some carried out by well-trained and armed "terrorists." The incidents have caused casualties among security personnel and civilians, as well as property damage.
The Secretary of Iran's Supreme National Security Council Ali Larijani has directed authorities to severely punish the "terrorists."
Meanwhile, Iran's police chief Ahmad-Reza Radan said on Sunday that the police had raised alert levels and arrested several leaders of the troublemakers during the operations on Saturday.
President Pezeshkian noted in the interview that the normal demands of the Iranian people are reasonable and justified, but they must realize that triggering riots and carrying out terrorist acts are the enemy's attempts to undermine the country. He urged the public to remain vigilant.
Also on Sunday, Iranian Parliament Speaker Mohammad Baqer Qalibaf warned that Tehran would regard U.S. and Israeli bases and facilities in the Middle East as "legitimate targets" if Washington takes military action against Iran. His remarks followed media reports saying U.S. President Donald Trump is "seriously considering authorizing a strike" against Iran.
Iranian state media reported that at least 109 members of Iran's security forces have been killed in clashes since the protests began 14 days ago. Meanwhile, human rights groups based outside the country said the number of protesters killed has exceeded 200, though the figure could not be independently verified.
The protests initially erupted over a sharp depreciation of the rial and sweeping subsidy reforms. Iranian authorities have blamed the unrest on foreign-linked agents and sanctions imposed by the United States.
Iranian president says government focusing on ensuring supplies amid protests
