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Commodities Briefing - Categorized | Bullion/Gold, Currencies more

Japanese rush to sell gold as price in yen jumps

Posted on 10 April 2013

The weak yen has triggered a gold rush, literally, among Japanese households, reflecting how bold new economic policies are shaking up long-entrenched deflationary attitudes, freeing up dormant assets, and sparking new economic activity.
While gold prices have softened globally, the declining value of the yen against the dollar makes the precious metal worth a lot more in Japan. Japanese families are now scrambling to dig out gold objects from closets and jewelry boxes, and selling it to metals dealers, converting their passive assets into cash that some say they plan to put to work on everything from vacations to children’s allowances………………………………………..Full Article: Source


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VRS - who has written 36568 posts on Opalesque Commodities Briefing.


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