Japanese Rush to Sell Gold as Price in Yen Jumps
http://online.wsj.com/article/SB10001424127887323820304578412283865306950.html?mod=WSJ_Markets_LEFTopStories
WSJ, April 9, 2013
Summary
Even though world gold price is decreasing in general, the gold price in Japan is steadily rising. The primary reason for gold price rise in Japan is high Yen price. Skyrocketed price of Yen is triggering the rise of overall metal price in Japan, and people are selling gold due to significant price increase. Government is planning to increase the value of Yen in world market so that it can drop the rising price of gold and other imported products. If it worked successful, Japanese people would began to open their purse that has been shrunk for 10 years.
My thought
Japanese are famous for not spending but saving things in consideration for the future. In addition, the high Yen price is further shrinking consumerism in Japan. For the future of Japanese economy, Japan should encourage people's spending and lead out inflation in Japanese economy. Gold price rise is one incidence that signifies the overall condition of Japanese economy. I hope Japan's vigorous development in the future.
Yes, Japanese government should encourage its citizens to spend more money for escaping from inflation!!!
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