TOKYO (Kyodo) — Gold futures hit a record high in Japan on Monday, topping 16,000 yen ($111) per gram, as investors fled to the safe-haven asset amid the intensifying conflict between Israel and Iran.
The price briefly rose 244 yen from Friday to 16,131 yen at the Osaka Exchange as tensions heightened in the Middle East with Israel and Iran continuing to attack each other.
On the Tokyo Commodity Exchange, the benchmark Middle East crude oil futures contract briefly climbed 1,250 yen to 63,170 yen per kiloliter amid concern about supply disruptions.
The U.S. dollar temporarily climbed to the upper 144 yen level in Tokyo, with the currency often bought in times of contingency.