investingLive Asia-Pacific FX news wrap: Gold & silver new record highs. Yen & yuan higher

Gold and silver prices are surging due to safe-haven demand, lower real yields, and weakness in the US dollar. Gold is nearing $4,500, while silver approaches $70. The yen has strengthened further, pulling USD/JPY down to around 156.30, following verbal interventions from Japanese officials, reflecting a defensive tilt in the FX market. Japanese equities are rising as domestic bond yields retreat from record highs, with the Topix climbing to 3,422 near its recent record high of 3,434.6, supported by reports of Goldman Sachs planning significant investments in Japan's corporate markets. In China, the People's Bank of China set the USD/CNY fixing at 7.0523, marking a near 15-month high for the onshore yuan, indicating the central bank's reluctance to allow rapid appreciation of the currency despite strength in spot trading. The Australian dollar edged higher ahead of the Reserve Bank of Australia's minutes, which discussed potential pivots back to rate increases if inflation risks persist. Overall, market participants are watching these developments closely, assessing behavior in a risk-off environment.