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Gold Prices in Japanese Yen
The Japanese Yen is one of the most popular currencies in the world. The yen has a solid reputation for stability, and as such it is oftentimes bought during periods of economic upheaval or market sell-offs. The yen is one of the most heavily traded currencies, and it is also widely used as a reserve currency.
The Japanese Government has maintained a policy of currency intervention since 1973, and that intervention continues to this day. Japan’s economy is heavily tilted toward exports, and a weaker yen makes the country’s goods and services more competitive on the international market.
The price of gold can be quoted in and exchanged in any currency. If you are in Japan, for example, you would likely see the price of gold quoted in yen per ounce, gram and kilo. Prices may, however, also be quoted in other currencies as well such as U.S. Dollars or euro.
Gold Pricing in Japanese Yen
The price of gold is in a constant state of flux. Prices can be influenced by many different factors, and those factors can potentially affect gold prices all over the world. Some of the main potential influences on the price of gold include:
- Central bank buying or selling
- Interest rates
- Currency markets
- Investment demand
Gold has a long and significant history as a reliable store of wealth and value. This reputation makes gold attractive not only to institutional investors but to individual investors as well.
Gold may potentially provide a meaningful hedge against a number of economic and geopolitical issues. Gold may be purchased to hedge against inflation, and may potentially be useful in preserving purchasing power in the face of declining paper currency values.
Gold prices may be determined by a pricing mechanism such as the London gold price as well as exchange-traded futures contracts.
The Japan Mint
The Japan Mint is an incorporated administrative agency of the Japanese Government. The mint is responsible for the production of Japan’s circulation coinage. The mint’s activities have expanded over the decades to include the production of Japanese decorations, medals and metallic art.
The Japanese Mint has produced numerous commemorative gold coins. Some examples of these collectable gold coins include the 60th Year of the Emperor on the Throne 100,000 yen gold coin and the Enthronement of the Emperor 100,000 yen gold coin.
The Japanese Economy
Japan has the third largest economy in the world behind the United States and China and it is the world’s second largest developed economy.
Japan is a massive exporter, and the nation has one of the largest auto industries as well as the largest electronic goods industry. Japan’s focus tends to be on technologically advanced manufacturing, and the country is a major producer of instrumentation and robotics. Japan is home to numerous Fortune 500 companies.
Japan has had numerous gold mines in operation in the past. Some of these mines, no longer in production, offer tours and mining education. Today, the Hishikari Mine is the largest in Japan, with estimated reserves of 8 million ounces of gold.
Japan has been battling deflation for two decades. The country has used various means to halt the slide in prices and to spur inflation. Some of these measures have included extremely low interest rates and quantitative easing.
Japan has one of the largest stock exchanges in Asia. The Tokyo Stock Exchange is one of the largest in the entire world by market capitalization. The Nikkei 225 and TOPIX are two major stock market indexes.
The Japanese Yen is likely to remain one of the most important currencies of the world. Like gold, the yen may potentially be sought out by investors during periods of economic or geopolitical distress. Although Japan is still battling deflation and trying to get its economy on track, it is widely considered to be stable and therefore its currency plays a key role in global investment.
The yen has been a favorite among investors performing a carry trade in which investors borrow money in Japan at low rate and invest it elsewhere at a higher rate thus providing a net return on investment.