Japan’s stock markets started the day on a positive note, following the upward trend in US markets. The country’s benchmark Topix experienced a 0.6 per cent increase in early trading, making it the top-performing stock market in the Asia-Pacific region. The real estate sector stood out as the strongest performer, with a significant 4.2 per cent increase.
In contrast, the yen continued to weaken against the dollar, dropping by 0.15 per cent to ¥153.04. Despite indications from officials that the government was prepared to intervene, the yen’s decline persisted. Meanwhile, the price of gold reached a new all-time high, rising by 0.6 per cent to $2,387.85 per troy ounce.
The surge in gold prices can be attributed to stronger-than-expected US inflation data, which has sparked a rally in the precious metal. Investors often turn to gold as a safe-haven asset during times of inflation and economic uncertainty. As a result, gold has seen increased demand and value, making it an attractive investment option for many.