Gold price hits record in Japan on fear of yen stagflation
“The price of gold in Japan rose to its highest level ever on Monday, driven by what analysts say is a combination of geopolitical risk and worries over a weakening yen.”
USAGOLD note: Stagflation is a global concern. One analyst is quoted as saying that even young people are buying gold “out of concern about being able to maintain purchasing power into retirement.” Keep in mind that Japan has been mired in a near deflationary economy for decades. Is gold’s record-breaking performance in terms of yen a sign of things to come for other currencies?
Gold price in Japanese yen
Chart courtesy of TradingView.com