Japan is seeing a boom in gold investment amid heightening concerns over a global economic slowdown caused by U.S. President Donald Trump’s hefty tariffs, as investors seek a safe asset seen as unlikely to plummet in the event of turbulence.
The benchmark price of gold set by Tokyo’s Tanaka Precious Metal Technologies Co. hit an all-time high in yen terms on April 22, exceeding 17,000 yen ($115) and surging around 15 percent in the three months since Trump took office on Jan. 20.
Products linked to gold price movements have also become popular among investment trusts covered by Japan’s tax exemption program for private investors, known as NISA, while more people have started monthly investments in pure gold.
File photo shows 1-kilogram bars of gold bullion at a store in Tokyo. (Kyodo) ==Kyodo
Among investment trusts, the inflows to the Mitsubishi UFJ fine gold…
