There is mounting evidence that the gold bug is hitting Japan. According to Profit Confidential :
"I don?t believe it is a coincidence that, ever since the Japanese government reported a budget deficit, the Japanese consumer increased their buying of gold bullion to be at a 15% greater pace than last year (source: Market Watch). That is, the Japanese consumer bought 15% more gold bullion in 2011 than 2010. Thus far in 2012, this trend has shown no signs of slowing down."
The biggest Gold players in Asia are India and China. Smaller countries like the Phillipines and Vietnam are increasing their holdings. Add Japan to the mix and you got the makings of a gold buying frenzy in Asia.
Could it be that these countries central banks are buying gold to diversify their assets in the event of some kind of currency collapse? Could it be that citizens of these countries are waking up to the realities of this world that its citizens are worried about faith in their currency?
Source: http://neilski.typepad.com/chicago_gold_and_silver_i/2012/11/gold-bug-hitting-japan.html
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