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Commodities Briefing - Categorized | Bullion/Gold, Trading more

Japan still selling, not buying gold

Posted on 24 January 2013

Households in Japan, the world’s third largest economy, continued to sell rather than Buy Gold in 2012, according to results from the country’s biggest bullion retailer. Tanaka Kikinzoku Kogyo, founded in 1885 and part of the Tanaka Holdings Group, says that its purchases of gold bullion from the public outweighed its sales for the eighth year running in 2012.
The news contradicts many late-2012 claims that Japanese gold demand was surging as a result of weak monetary policy. This week’s new 30-year highs in the Yen gold price has also seen more selling than buying, according to Japanese retailers. ……………………………………….Full Article: Source


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