GOLD PRICE IN JAPANESE YEN — JULY 23, 2008

On Wednesday, July 23, 2008, the gold spot price was C$932.36 per troy ounce in Canadian Dollars, equivalent to ¥97,245.15 JPY per ounce or ¥3,126.50 JPY per gram. Gold fell -2.38% 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.