The retail price announced at 2 p.m. on the 9th by Tanaka Kogyo Co., the largest local gold dealer, hit a new high of 21,890 yen per gram, up 258 yen (1.2%) from the previous day. The Osaka Exchange’s futures contract also added 21,30 yen to the 20,000 yen mark for the first time.
The U.S. Federal Reserve released a summary of the meeting held in September. Gold was bought in anticipation of continued interest rate cuts after it was revealed that most participants supported an additional rate cut within the year after October. If interest rates fall, gold investment without interest rates will increase.
International benchmark New York futures rose $76.6 or 1.9 percent to a new high of $4,081. It will remain at its highest level on Monday, exceeding $4,000.
https://www.nikkei.com/article/DGXZQOUB097QA0Z01C25A0000000/
