GOLD PRICE IN JAPANESE YEN — MAY 16, 2023

On Tuesday, May 16, 2023, the gold spot price was C$2,677.38 per troy ounce in Canadian Dollars, equivalent to ¥279,250.73 JPY per ounce or ¥8,978.11 JPY per gram. Gold fell -2.11% 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.