Gold In Japan Reaches Highest Since 1980 – Surging Demand Results In Delays To Buy Gold

September 6, 2019

◆ Gold has reached its highest price in Japanese yen since 1980 at 165,045/oz (see charts below) as the yen depreciates amid “global economy jitters”

◆ A surge in demand in Japan is resulting in gold buyers needing to wait “2-3 hours to close deals” on gold bars according to Japan’s largest gold broker Tanaka Kikinzoku

◆ Gold is up 16% year to date in Japanese yen and near 40 year nominal highs due to concerns about the outlook for the yen, the Japanese and the global economy

◆ There is a “global hunt for the safe haven precious metal amid worries that the U.S.-China trade row could further depress the global economy” according to Reuters (see story below)

◆ Tokyo Commodity Exchange (TOCOM) gold futures have been surging since August and one commodity brokerage said Japanese speculators were taking profits at these levels

◆ Gold in dollars is down 1% and silver 0.4% this week after sharp falls yesterday; This follows gains earlier this week and strong gains over the summer which have made gold one of the best performing assets this year with gains of 18.4%

Surge in demand for gold bars according to Tanaka Kikinzoku


Mark O'Byrne is executive and research director of which he founded in 2003. GoldCore have become one of the leading gold brokers in the world and have over 4,000 clients in over 40 countries and with over $200 million in assets under management and storage.We offer mass affluent, HNW, UHNW and institutional investors including family offices, gold, silver, platinum and palladium bullion in London, Zurich, Singapore, Hong Kong, Dubai and Perth. 

USA has the world’s largest holdings of gold: 8,134 - representing 77% of its Total Foreign Reserves.

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