Gold Investment "Could Rise 8-Fold" in Japan
ACCORDING TO Tokyo's largest publicly traded bank, demand for Gold ETFs in Japan may increase by as much as eight times within a year.
Japan's large amount of public debt may drive consumers to Gold Investing in order to safeguard their wealth from further economic factors, says Mitsubishi UFJ. This could push Gold ETF volumes up to eight times their current level.
More and more consumers are looking to Buy Gold to keep their money safe, says Paul Yamamura, a Tokyo-based trader with the international Sumitomo Corporation.
"Owning physical gold has become popular among individual investors," he told Bloomberg.
The world's largest Gold ETF – the SPDR Gold Trust, primarily listed in New York and holding Gold Investment bars at HSBC bank in London – has a cross-listing on the Tokyo Stock Exchange.
Gold Prices in Japanese Yen have risen from 45,000 per ounce five years ago, to almost ¥110,000 per ounce today.
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