Skip to Content Facebook Feature Image

Gold prices hit record high in Japan

China

Video Player is loading.
Current Time 0:00
Duration -:-
Loaded: 0%
Stream Type LIVE
Remaining Time 0:00
Â
1x
    • Chapters
    • descriptions off, selected
    • captions off, selected
      China

      China

      Gold prices hit record high in Japan

      2024-10-16 18:53 Last Updated At:19:07

      Gold prices in Japan surged to a historical high of 14,088 yen (about 94.27 U.S. dollars) per gram, fueled by the ongoing turbulence in the Middle East and the yen's depreciation.

      As of Thursday, gold retail prices in Japan had reached new highs for the second consecutive day. The futures price of gold has surged to 85.85 U.S. dollars per gram, making another record. Prices for silver and platinum have also seen an uptick.

      A main factor contributing to the rise in gold prices is the ongoing tensions in the Middle East, which spurs investors to seek safer assets and boosts the demand for gold.

      The continued depreciation of the yen against the U.S. dollar is also playing a crucial role, as it has led investors to speculate that the Japanese government may intervene in the foreign exchange market. Although the Bank of Japan has not yet taken any intervention measures, nervousness in the market has already begun to surface.

      Gold prices hit record high in Japan

      Gold prices hit record high in Japan

      Next Article

      Trump's governance style risks creating cronyism: scholar

      2025-02-20 04:28 Last Updated At:05:17

      U.S. President Donald Trump's style of governance risks turning towards a form of cronyism, which only serves the interests of a select group of individuals, who are close to the president, rather than delivering policies that benefit the U.S. public, according to a scholar.

      Stuart Malawer, a distinguished service professor of law and international trade at George Mason University, made the remarks during a recent interview with China Global Television Network (CGTN).

      Malawer said the continuous tariff threats from Trump is an example of his coercive personality, which has been influencing his conducts, career, and even the policy making in the White House.

      "From the time he was in real estate, in Queens, New York, the time he was in the White House, that's how he's conducted his personal, professional and political life, through threats," he said.

      Since taking office to start his second term last month, Trump has signed a series of executive orders and announced a blitz of aggressive trade measures as part of his so-called "America First" agenda.

      The latest Trump tariff announcement came on Wednesday with the President saying he intends to impose tariffs of around 25 percent on auto imports.

      On Feb. 10, Trump raised tariffs on aluminum from 10 percent to 25 percent and ended exemptions and exclusions for steel and aluminum tariffs.

      These tariff policies have sparked widespread opposition, with analysts saying the measures undermine the rules-based multilateral trading system, impact the global supply chain, hinder global economic recovery, and harm the interests of all parties.

      Noting that Trump's tariffs will cause even higher inflation at home and force the ordinary Americans to pay for the price, Malawer warned the decision to impose tariffs on certain goods can potentially leave room for a small group of elites to influence decision making in the White House, thus creating cronyism and lack of transparency in the U.S. political system.

      "What it really does is create a cronyism and a political system where the interests of particular parties, which rival between themselves, will try to influence the governments and political actions. So, the answer to your question, yes, it's going to favor not just his (Trump's) political friends, but it will go back in a sense to the past of where it's cronyism, not really public policy objectives that are negotiated and discussed in the open," he said.

      Trump's governance style risks creating cronyism: scholar

      Trump's governance style risks creating cronyism: scholar

      Recommended Articles
      Hot · Posts