It's not just Brexit that's driving bullishness in the gold market where spot prices have jumped 25 percent year-to-date.

In the Land of the Rising Sun, Japanese consumers are snapping up gold due to economic jitters even as Prime Minister Shinzo Abe looks to enjoy popular support, securing 70 out of 121 seats up for grabs in the upper house at Sunday's election.

Japan's largest bullion retailer Tanaka Kikinzoku Kogyo K.K. said on Wednesday that sales in the first half of the year soared 30 percent from a year ago to 15 metric tons, The Nikkei newspaper reported.