GOLD PRICE IN JAPANESE YEN — JULY 21, 2008

On Monday, July 21, 2008, the gold spot price was C$964.45 per troy ounce in Canadian Dollars, equivalent to ¥100,592.14 JPY per ounce or ¥3,234.11 JPY per gram. Gold rose +0.11% 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.