All news

Retail price of gold in Japan hits all-time high of $67 per gram

Meanwhile, the cost of gold futures on the Tokyo Commodity Exchange was around $60.2 on Monday

TOKYO, March 13. /TASS/. The retail price of gold in Japan has hit an all-time high of 9,000 yen ($66.94), according to data released by one of the country’s largest producers and sellers of precious metals, Tanaka Kikinzoku, on Monday.

The record price was fixed amid investors’ growing interest in stable assets following the bankruptcy of one of America’s largest banks, Silicon Valley Bank.

Meanwhile, the cost of gold futures on the Tokyo Commodity Exchange was around 8,100 yen ($60.2) on Monday.

On March 10, the California Department of Financial Protection announced the bankruptcy of SVB, the 16th-biggest lender in the United States. It served mainly employees in the technological sector and companies financed with venture capital. It became the largest bankruptcy of a US bank since the 2008 financial crisis as estimated by the CNN TV channel.