GOLD PRICE IN JAPANESE YEN — JULY 22, 2013

On Monday, July 22, 2013, the gold spot price was C$1,383.57 per troy ounce in Canadian Dollars, equivalent to ¥144,306.35 JPY per ounce or ¥4,639.55 JPY per gram. Gold rose +3.07% 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.