GOLD PRICE IN JAPANESE YEN — MARCH 21, 2005

On Monday, March 21, 2005, the gold spot price was C$521.85 per troy ounce in Canadian Dollars, equivalent to ¥54,428.96 JPY per ounce or ¥1,749.93 JPY per gram. Gold fell -1.03% from the previous trading session.

Currency fluctuations between CAD and JPY significantly impact the effective cost of gold for international investors. Japan is the world's third-largest economy and a significant gold consumer, particularly for jewelry and industrial applications. The Bank of Japan's ultra-loose monetary policy has historically supported higher gold prices in Yen terms, making Japan an active gold market for both institutional and retail investors.