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International gold and silver prices both advanced on Tuesday.
On the New York Mercantile Exchange, gold futures for August delivery rose 1.51 percent to settle at 4,076.40 U.S. dollars per ounce, while silver futures for September delivery gained 3.57 percent to close at 59.108 dollars per ounce.
Gold, silver futures rise on Tuesday
The Japanese yen hit 163 against the U.S. dollar in New York on Tuesday, a level unseen since December 1986, as investors sought the greenback as a safe asset amid escalating tensions in the Middle East.
The yen's slide has driven up import costs from energy to food, hitting Japan's resource‑dependent economy and millions of households.
Analysts warn that renewed hostilities in the Middle East could disrupt vital energy shipping routes and send global oil prices surging. For Japan, which relies heavily on imported fossil fuels, higher crude costs would swell the trade deficit and prompt investors to sell yen for dollars in anticipation of a worsening current account balance. Meanwhile, domestic factors are adding to the yen's weakness. The wide interest rate gap between Japan and major Western economies remains a drag, while markets expect Prime Minister Sanae Takaichi's administration to press ahead with its "proactive fiscal policy," easing budget discipline. Traders see that stance as a signal for further yen depreciation.
At its lowest in nearly four decades, the yen is fueling expectations of fresh intervention by Japan's government and central bank.
Japanese yen falls to 39-year low amid Middle East tensions
