Japan's retail gold price surged to a record 21,632 yen (about 142 U.S. dollars) per gram on Tuesday, reflecting a weaker yen and growing global uncertainties.
The soaring price has fueled brisk trading, with long queues forming outside gold retailers as consumers rush to buy or sell.
In Tokyo, citizens expressed strong interest in gold as both a safe haven and a store of value.
"Gold holds value better than cash amid the inflation. Gold supply is limited, and under the current international situation, it feels better to own gold from a future perspective," said a Tokyo citizen.
"I might consider buying if the price drops a little. But with gold at a record high, I think about selling the gold I have at home," another resident said.
A Tokyo gold shop employee said customer traffic has nearly doubled from last year, with both sales and recycling volumes up sharply. Many buyers are choosing bars and ingots rather than jewelry such as rings or necklaces.
"Today, a customer has already ordered eight 25-gram bars, totaling 200 grams, for 4.3 million yen (about 28,200 U.S. dollars). Due to rising distrust in the U.S. dollar, people are selling dollars and coming to buy gold," the employee said.
Analysts noted that the sharp fall of the yen has driven gold prices higher in yen terms.
On Tuesday, the Japanese currency slid below 152 yen per dollar, its weakest level in eight months, amid market expectations that ruling Liberal Democratic Party's new leader Sanae Takaichi will adopt expansionary fiscal policies.
At the same time, mounting concerns over the ongoing U.S. government shutdown and global geopolitical tensions have pushed investors toward gold as a safe-haven asset.
Data showed Japan's retail gold price has risen about 40 percent since the beginning of the year, doubling compared with two years ago.
Gold prices in Japan hit record high as yen weakens
China is willing to strengthen communication, enhance trust, eliminate interference, and deepen cooperation with Canada to bring bilateral relations forward on a steady and sound track in solid strides under the new circumstances, said Chinese Foreign Minister Wang Yi on Thursday.
Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, met with Canadian Foreign Minister Anita Anand in Beijing on the day.
Referring to Canadian Prime Minister Mark Carney's visit to China, the first by a Canadian prime minister in eight years, Wang said the trip marks a milestone in bilateral ties and signals a turning point in the relationship.
The leaders of the two countries will hold meetings and talks, which are expected to open up new prospects for bilateral relations, said Wang.
The world today is undergoing profound and complex changes, and the impact of China-Canada relations transcends the bilateral scope, Wang noted.
Wang said that China and Canada have different social systems, stemming from different historical and cultural heritage, and based on the choices of their respective people.
He urged both sides to view each other in a rational and amicable manner with an inclusive mindset, handle issues on the basis of mutual respect, focus on the agenda of cooperation, and send positive messages so as to foster optimism, inject greater confidence into the development of bilateral relations, and jointly build a new type of strategic partnership between China and Canada.
Anand said the new Canadian government attaches great importance to relations with China. She also added that Prime Minister Carney looks forward to engaging in in-depth exchanges with Chinese leaders during the visit to set the course for the development of bilateral relations, resume dialogue in various fields, pursue more mutually beneficial outcomes, enhance coordination and cooperation in multilateral affairs, and further advance the strategic partnership between the two countries.
China ready to work for steady, sound ties with Canada: FM
