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Why the "Smart Money" in Japan is Investing in Gold

By , Contributing Writer, Money Morning -

Some Japanese investors were thrilled as gold prices swooned this week, because they got a chance at investing in gold at a bargain price. 

Tokuriki Honten Co., the country's second-largest gold retailer, reported Tuesday that Japanese investors doubled their gold purchases this week from the week before.

And Reuters reported how 63-year-old Yujiro Yamashita traveled to Tokyo's Ginza district to buy gold for the first time in 20 years.

Why?

It's thanks to fears stemming from Japan's new monetary easing, known as "Abenomics."

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If You're Worried About Gold Prices, You Need to Read This

By , Executive Editor, Money Morning • @privatebrief -

After an especially ugly day for gold investors on Monday, the "yellow metal" has now entered a "bear market". As of yesterday, gold is down 26% from its record close back in August 2011.

To get some expert insights on this sell-off, I telephoned Peter Krauth, our resident natural resources expert and editor of our Real Asset Returns research service.

I asked Peter for his insights on the following three questions:

  • Why gold is selling off.
  • What you can expect from here.
  • And what investors should do now.

Here's what he had to say...

Investing in Gold: Here's What to Do Now

By , Money Morning -

Gold Price trends this year

Monday's drop in gold prices was the largest one-day plunge since February 1983 - which led many of those investing in gold to bail on the yellow metal.

Gold prices tumbled $140.40, or 9.4%, to $1360.60 an ounce. This brought the two-day decline to $203.70, or 13%.

On Friday, we outlined recent factors driving gold's price plunge:

  • The Federal Open Market Committee (FOMC) meeting minutes that came out last week suggested the central bank may start scaling back its monetary stimulus measures later this year, reducing inflationary pressures.
  • Goldman Sachs Group Inc. (NYSE: GS) last week cut its 2013 average gold forecast, for the second time, to $1,545 from $1,610. Investors like to dump the metal after the release of bearish research.
  • There have been rumors financially strapped Cyprus was selling 400 million euros of gold, 75% of its reserves to raise cash.

Gold prices ended the drastic two-day decline Tuesday, up nearly 2% to $1,387.40.

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