Gold prices in Japan set new record for third day in row

Gold prices in Japan renew the record for the third day in a row. On April 13, the price of one gram was 9,546 yen (about $73.43), Report informs.

This price was set by Tanaka Kikinzoku Kogyo, one of the biggest Japanese companies trading in precious metals.

This is 11 yen more than the previous record, which was set on April 12. Since April 11, gold prices have been breaking records in Japan.

Gold prices have shown steady growth since March, when bank failures occurred in the US and Europe. The rise in gold prices indicates the concern of investors about the stability of the financial market.

In addition, in recent days, after the decisions of producing countries to reduce oil production, fears have increased about rising prices for this type of raw material and the impact on the global economy.

Record prices for gold were recorded in March against the background of bank failures in the US and Switzerland. Investors fear the impact of the Fed rate hike on the US financial system and invest in gold to minimize risks. Investors and analysts expect further growth in demand for this metal, which also drives the prices up.