TOKYO, Sep 03 (News On Japan) - Gold prices reached an all-time high in Japan, with the announcement on Tuesday that the retail price had hit 18,211 yen per gram, exceeding the 18,000 yen mark for the first time.
When asked about the surge, a passerby said, "I didn’t know. One gram is already 18,000 yen? I have a little on hand, so I noticed prices were rising. I wish I had bought more when I was younger."
Gold has continued to rise in response to global economic and political developments, with the threshold of 18,000 yen per gram surpassed for the first time on September 1st.
At a reuse shop handling precious metals, the buying price of gold was 17,209 yen per gram, a record level. "The price has become remarkably high," said Komehyo Umeda appraiser Shu Mizutani. "In the past, higher prices mainly encouraged people to sell jewelry and other items they already owned. But as prices keep climbing, demand for purchases has also increased, especially among people in their 20s and 30s, who see it as an asset they can wear."
As prices soar, gold is increasingly viewed not only as an investment but also as a tangible asset to be worn. Analysts attribute the latest rally to confusion over U.S. monetary policy, prompting investors to move funds into gold, considered a safer asset.
Source: YOMIURI
