GOLD PRICE IN JAPANESE YEN — MAY 7, 2024

On Tuesday, May 7, 2024, the gold spot price was C$3,165.09 per troy ounce in Canadian Dollars, equivalent to ¥330,118.89 JPY per ounce or ¥10,613.56 JPY per gram. Gold fell -0.43% 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.