GOLD PRICE IN JAPANESE YEN — MAY 8, 2024

On Wednesday, May 8, 2024, the gold spot price was C$3,177.31 per troy ounce in Canadian Dollars, equivalent to ¥331,393.43 JPY per ounce or ¥10,654.54 JPY per gram. Gold rose +0.39% 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.