GOLD PRICE IN JAPANESE YEN — MAY 4, 2012

On Friday, May 4, 2012, the gold spot price was C$1,624.63 per troy ounce in Canadian Dollars, equivalent to ¥169,448.91 JPY per ounce or ¥5,447.90 JPY per gram. Gold rose +0.76% 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.