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

◆ 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



News and Commentary

Gold down 2.2% on China trade optimism, upbeat private-jobs data

Japan’s retail gold price clambers to highest since 1980 amid global economy jitters

Silver Rising in Value To $25/oz or $30/oz – Bloomberg Video

Fitch downgrades Hong Kong as city braces for more protests 

China, HK stocks set for best week since June amid trade optimism 

Former Zimbabwe president Robert Mugabe dead at 95 

With tariffs eating into profits, some Asian companies are moving home

EU Bank Bosses Warn Of “Grave Consequences” If ECB Keeps Cutting Rates


Gold Prices (LBMA – USD, GBP & EUR – AM/ PM Fix)

05-Sep-19 1542.60 1529.10, 1257.06 1238.72 & 1397.44 1380.78
04-Sep-19 1538.80 1546.10, 1265.05 1269.97 & 1397.69 1403.86
03-Sep-19 1532.45 1537.85, 1278.06 1277.80 & 1400.35 1403.44
02-Sep-19 1523.35 1525.95, 1260.42 1265.01 & 1388.69 1391.51
30-Aug-19 1526.55 1528.40, 1253.14 1251.15 & 1382.75 1383.51
29-Aug-19 1536.65 1540.20, 1260.51 1262.96 & 1387.29 1392.03
28-Aug-19 1541.75 1537.15, 1263.31 1258.77 & 1389.89 1387.43


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Mark O'Byrne

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