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2016-07-13 — bloomberg.com
Individual investors like Kudo drove a 60 percent jump in sales of the precious metal in June from May at Tanaka Holdings Co., the operator of Japan's largest bullion retailer, as the yen's rebound against the dollar made it more affordable. While Prime Minister Shinzo Abe's ruling party scored a convincing victory in July 10 upper house elections, confidence in his economic policies is flagging. A July 2-3 Asahi newspaper poll showed 55 percent of those surveyed support a new direction versus 28 percent for maintaining course.
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"For investors, buying gold is similar to casting a no-confidence vote," said Itsuo Toshima, 68, an investment adviser and former regional manager for the World Gold Council in Tokyo. "Gold is the unprintable currency, unlike the yen''... Gold's lack of yield isn't a big draw-back for investors at a time when almost 90 percent of Japanese government bonds have yields below zero...
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