Close X Cookies are necessary for the proper functioning of 24hGold.com. By continuing your navigation on our website, you are accepting the use of cookies.
To learn more about cookies ...
EnglishFrench
Gold & Silver Prices in

Gold fever catching in Japan

IMG Auteur
 
Published : January 22nd, 2013
278 words - Reading time : 0 - 1 minutes
( 0 vote, 0/5 )
Print article
  Article Comments Comment this article Rating All Articles  
0
Send
0
comment
Our Newsletter...

24hGold - Gold fever catching ...Gold has been hammering away the $1,690 mark for the last couple of trading sessions, but with no luck so far. Silver looks to be setting up for a move back over $32 and put in a stronger showing on Friday than either gold, platinum or palladium. This morning European stocks are edging towards two-year highs – a further sign of improving sentiment.

Last week saw further gains in gold relative to the Japanese yen, gold hitting Y149,588.2/oz; the highest price since the 1980 all-time nominal record of Y204,850. As WSJ reports, yen gold is up 4.2% since the start of the year and 10% since late November – when markets first started paying attention to reports that then prime-ministerial candidate Shinzo Abe was determined to force new yen-weakening measures on the Bank of Japan. As one commodity strategist quoted in the article notes, "the first product people think about when it comes to inflation is gold: it's a very obvious trade." The Japanese have not tended to be big gold buyers compared with others in Asia, but given the paltry return on cash savings they’re getting, this is changing.

Trader Dan provides a good update on the commodity price chart indicators, noting that last Thursday the Continuous Commodity Index again crept above its 50-day and 200-day moving averages, as seen in late November and mid-December. As the chart on his site shows, the CCI has been in a downtrend since last October. But with quiet in Europe, gains in US economic indicators and talk of massive money printing from the Bank of Japan, the broader environment is looking more and more constructive for commodities and precious metals.

Data and Statistics for these countries : Japan | All
Gold and Silver Prices for these countries : Japan | All
<< Previous article
Rate : Average note :0 (0 vote)
>> Next article
Comments closed
Latest comment posted for this article
Be the first to comment
Add your comment
Top articles
Latest Comments
America Too Broke to Fix Crumbling Infrastructure? “Bridges, Roads,...
20 Febmanfredhumphries3
If you stopped spending so much money on the deep state, military and wars that protect you from nothing and make the world hate America, and stopp...
Alan Greenspan renews gold advocacy, Part 2
20 Febdennyc
Believe it - Greenspan is as dumb as he looks. I'm slightly puzzled as to why the author would use Greenspan as a source for anything. Even a curso...
“That War You Ordered….”
20 FebRosscoe2
Nice comments James If Trump is as mad as everyone says he is , then anything is possible,but I doubt he is and being a tough hombre, he h...
“That War You Ordered….”
19 Febscipionasica3
How splendid to read a clear and lucid article. I am a British citizen living in France and I confirm to you that the illogical nonsense fed to yo...
Alan Greenspan renews gold advocacy, Part 1
18 Febstinger
STFU Greenspan, shut your lie-hole already. When you had a chance to make a difference you sold us out. Nobody gives a chit about...
“That War You Ordered….”
18 Febcomptel
Very good article, except for the unneeded bad language!
Trump Fan John Paulson Cuts GLD Gold Investment as Inflation Hits 5...
15 FebChrisR13
Paulson still owns 4.3 million shares but don't forget GLD allows its biggest holders to redeem for the underlying physical gold but everyone else ...
Yet Another Wall Street 'Witch's Brew'
15 FebDRGEORGE0
I'm not an American but if I had a vote I probably would have voted for DT as the alternative was much worse. My biggest concern about DTs policies...
Most commented articlesFavoritesMore...
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS