Bullion held in Japan's largest gold ETF has surged 10 percent this year.
Articles Tagged "japan"
Leonard Melman, publisher of the Melman Report, believes another downleg is possible for gold, but the long-term bull market is intact.
Spot gold fell more than $17 June 11 to $1,368.61 an ounce.
Japanese investors are selling yen to purchase foreign bonds, which is pushing up the value of the dollar and lowering the price of gold.
Many are concerned about gold's role in the current risk-on environment. The WGC weighs in.
Bloomberg reported that gold futures hit a 29-week high as a result of expectations that demand will increase as central banks in the United States, Japan and Europe take steps to fuel economic growth.
Reuters reported that May marked a 15-month low for gold exports from Japan.
USA Today reported that the disaster in Japan is affecting gold commodities.
Gold fell more than $33 per ounce on the day as investors look for liquidity to raise capital in light of the Japanese disaster. The increasing fears of a full nuclear meltdown and the crash of the Japanese markets which lost 14 percent on the day, have attributed to investors seeking safe heaven currencies.
BullionVault reported on how gold prices are affected by the recent Japan tsunami.