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Gold in Japan ETF expands 10pct as price drop entices buyers

Posted on 10 July 2013

Japan’s biggest bullion-backed exchange-traded fund expanded 10 percent this year by volume, bucking a global trend as lower prices and the yen’s weakness spurred buying as a hedge against inflation.
Bullion held by the ETF exceeded 6 metric tons on July 5, nearing a record reached in October, said Osamu Hoshi, general manager at Mitsubishi UFJ Trust and Banking Corp., which introduced the nation’s first gold-backed ETF three years ago. The value of assets held by the fund declined 5 percent this year to July 5 as gold futures in yen slid 13 percent, he said………………………………………..Full Article: Source


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