According to The Financial Times, "Japanese metal dealer Tanaka Kikinzoku Jewelry said that sales of gold bars in its seven stores in March rose by 500%. Last week, at the company's main store in the Ginza shopping district, customers stood in line for up to three hours to buy ingots weighing 500 grams and costing about ($ 22,500). March was the most successful month for the company's 120-year history. "
"Metal attracts investors not only because of the increase in taxes," said Itsuo Toshima, a consultant to pension funds. - Slowly and gradually people prepare for the worst, that is, to the collapse of "Abenomica." To protect capital, gold plays the role of inflation insurance, and if the economy returns to deflation, money in search of a quiet harbor will again flow into gold. "
It should be noted that the Japanese passion for gold bars contradicts the generally accepted attitude to precious metal, the price of which fell by 28% last year, thereby completing the bull market, which lasted 12 years. Nevertheless, says the head of the Department of Resources of the Standard Bank in Tokyo Yuchi "Bruce" Ikemizu (Yuichi "Bruce" Ikemizu), retail customers are tempted by low prices.
The volume of assets in the most popular in the country investment tool with gold collateral - the index fund The Fruit of Gold under the patronage of Mitsubishi UFJ Trust and Banking, grew from 5.6 tons at the time of the coming to power of Mr. Abe in December 2012 to 6.9 t now, and all this despite the fall in the dollar price of gold by more than 20% over the period, Russian Jewelry Network reports with reference to www.Goldenfront.ru.