Japan's gold retail price is high since 1980, reflecting escape to safety assets

[Tokyo 5th Reuters]-On the 5th in Japan, the retail price of cash was the highest in about 40 years. Although it was boosted by fluctuations in the yen, it reflects the global escape to safe assets amid concerns that the US-China trade friction may further push down the global economy.

According to Tanaka Kikinzoku, the largest gold retailer in Japan, the retail price of pure gold (excluding consumption tax) reviewed once a day in yen is 5 days, 1 gram = 5325 yen, an increase of 0.7% from the previous day. This is the highest price since 14 February 1980.

According to Tanaka Kikinzoku, demand for gold has been rising since mid-August, and both retailers and buyers now take 2-3 hours to complete the transaction.