CommoditiesFiscal 2025 outflow due to higher prices abroad on geopolitical tensionsAs international gold prices rise, ingots are leaving Japan. © ReutersJO ISHIBUCHIMay 25, 2026 03:31 JSTTOKYO -- Japan's gold exports surpassed 4 trillion yen ($25 billion) for the first time in fiscal 2025, driven by rising prices amid heightened geopolitical risks. The figure likely is bolstered by outflows of the precious metal previously smuggled into the country.