GOLD PRICE IN JAPANESE YEN — MAY 14, 2012

On Monday, May 14, 2012, the gold spot price was C$1,560.91 per troy ounce in Canadian Dollars, equivalent to ¥162,802.91 JPY per ounce or ¥5,234.23 JPY per gram. Gold fell -1.72% 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.