Prices of gold in Japan leaped to 16,078 yen (about 167 U.S. dollars) per gram on Friday, marking a historic high for the second consecutive trading day.
It came after retail gold prices surpassed 16,000 yen per gram for the first time on Wednesday, latest data released by Japan's largest gold retailer showed.
With gold prices soaring, the country's gold market is experiencing a vibrant surge.
The manager of a gold shop located in Tokyo stated that the number of customers inquiring about gold transactions has increased by 20 to 30 percent compared to the same period last year.
Among them, some customers are seeking to offload large gold items that they have cherished at home for many years, taking advantage of the current high prices.
The recent record highs in Japan's retail gold prices are primarily attributed to the uncertain outlook of U.S. President Donald Trump's tariff policies as well as the escalating tensions in the Middle East, which have heightened investor risk aversion and led funds to flow into gold, viewed as a safe-haven asset.
Japanese media outlets noted that if the yen exhibits a trend of depreciation in the foreign exchange market, it will further drive up gold prices.
Investors in the gold market are closely monitoring future exchange rate trends in conjunction with the monetary policies of the U.S. and Japan.
Gold prices hit record high in Japan
