GOLD PRICE IN JAPANESE YEN — MAY 4, 2007

On Friday, May 4, 2007, the gold spot price was C$760.32 per troy ounce in Canadian Dollars, equivalent to ¥79,301.38 JPY per ounce or ¥2,549.60 JPY per gram. Gold rose +0.70% 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.