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Silver Prices in Japanese Yen
The Japanese Yen is one of the most widely traded currencies in the world. The yen is often bought in times of economic or geopolitical duress. This is due to the fact that Japan and its currency are considered to be extremely stable. The Japanese Yen is also one of the most widely used reserve currencies, and is included in the IMF’s Special Drawing Rights, or SDR.
The Japanese Government has not been afraid to intervene in its currency, and the government has actively done so since the early 70s. It may be in the nation’s best interest for its currency to remain on the weaker side. As a large exporter, a weaker yen makes Japanese goods and services relatively cheaper on international markets.
Silver is widely traded all over the globe, and can be quoted in and transacted in any currency. If you are in Japan, you would likely see the price of silver quoted by the ounce, gram and kilogram in Japanese Yen. You may also see the white metal quoted in alternative currencies as well.
Silver Pricing in Japanese Yen
Silver is bought and sold all over the world, and its price is in a constant state of flux. As both an investment asset and industrial commodity, silver prices can see periods of heavy volatility and price swings as well as periods of relatively quiet price action. Silver can be quoted or bought and sold by the ounce, gram and kilo. One ounce silver coins, rounds and bars are quite popular with individual investors.
The price of silver can be affected by many different inputs. Some of the main factors that can potentially influence the price of silver include:
- Interest rates
- Currency values
- Jewelry demand
- Risk appetite or aversion
- Investment demand
- Industrial demand
Silver is currently used in many different applications. Some of the primary uses of silver include electronic circuit boards, disinfectants, solar energy and chemical production.
It appears that more and more potential applications for silver are being discovered all the time. As industrial use for silver rises, prices could potentially rise as well. Silver oftentimes moves along with gold and other precious metals. Increasing industrial demand for silver could potentially fuel a price divergence between silver and other metals.
Silver prices are determined by the laws of supply and demand. There are, however, silver pricing mechanisms in place to facilitate trade in the silver market. Some of these mechanisms include the London silver price and exchange-traded futures contracts.
The Japanese Economy
Japan is home to the third largest economy in the world behind the U.S. and China. Japan is also the globe’s second largest developed economy.
Japan is very technologically advanced, and it is at the forefront of global technology. Japan is a large producer and exporter of automobiles, and also is the leading electronic goods market.
The Tokyo Stock Exchange is one of Asia’s largest markets, and the Nikkei 225 and TOPIX indexes are followed by investors all over the world.
Japan’s economic activity has been dogged by price deflation for two decades. The Bank of Japan has been actively engaged during that time in various forms of economic stimulus, including maintaining very low interest rates and initiating various types of quantitative easing measures. Despite this, Japan and its currency are considered to be very stable.
Due to Japan’s relatively low borrowing costs, the yen has often been a component of a popular carry trade. This carry trade occurs when an investor (typically institutions) borrows money in Japan at relatively low rates and then invests that capital elsewhere at higher interest rates. The net “spread” between the two rates minus transaction costs would represent the net profit of the carry trade.
As Japan becomes even more technologically advanced, its demand for silver could potentially rise. State-of-the-art electronics and robotics may require silver for sensitive electronic components. The potential uses for silver may be unlimited.
Silver may also gain in popularity as an investment and alternative to gold. Silver can potentially offer a meaningful hedge against a number of economic and geopolitical issues, and may also potentially offer further portfolio diversification.