Tomoya Takayama

Aug 28, 2024 | asia.nikkei.com | Tomoya Takayama

TOKYO -- New money continues to flow into the gold market despite prices near record highs amid expectations of U.S. interest rate cuts, with policy changes in India and central bank purchases in emerging markets like Poland adding to the fervor. New York gold futures are hovering around $2,550 per troy ounce, near the all-time high of $2,570.40 set on Aug. 20. Expectations for new capital inflows are now driving the market instead of China, the world's largest consumer of gold bullion.

Aug 15, 2024 | asia.nikkei.com | Tomoya Takayama

TOKYO -- Money is flowing into the gold market as expectations of U.S. interest rate cuts, geopolitical risks and short-term investing drive demand, with net inflows into gold-backed exchange-traded funds (ETF) in July reaching the highest level in two years. New York gold futures briefly reached a new high of $2,522.50 per troy ounce on Aug. 2 and opened Thursday near $2,500.

Jul 25, 2024 | asia.nikkei.com | Tomoya Takayama

TOKYO -- The People's Bank of China has become a leading buyer of gold, and its relatively low exposure to the precious metal gives it room to pile on more. Getting a clear picture of the central bank's moves in the market is difficult. Gold dealers around China clam up when the topic is broached in interviews or conversation. The PBOC's monthly data on its foreign exchange reserves offers one of the few windows into its activity.

Jul 10, 2024 | asia.nikkei.com | Tomoya Takayama

SHANGHAI -- China's Guangzhou Futures Exchange (GFEX) looks to list the country's first platinum and palladium futures, with trading to include not only investment bullion but also metal for industrial use. The news came at Shanghai Platinum Week 2024, a gathering of domestic and international market participants held by research body World Platinum Investment Council. The event began on Tuesday.

Jun 12, 2024 | asia.nikkei.com | Tomoya Takayama |Shugo Yamada

The asking price for purchasing used silver crowns has doubled in Japan over the past five years. TOKYO -- Surging market values for precious metals have started to turn silver crowns and teeth into potential gold mines. Purchases of silver crowns rose between 50% to 100% over the past year at Shikakin, a company in Hyogo prefecture that buys precious metals used in dentistry.