Reuters
Japan gold imports up 133.5 pct year/year in April
Tuesday May 25, 9:28 pm ET
TOKYO, May 26 (Reuters) - Japanese gold imports soared 133.5
percent in April from a year earlier to 6,800 kg after falling
the previous month for the first time this year, the Finance
Ministry said on Wednesday.
Steady demand for investment purposes and industrial use was
the key factor behind the rise, analysts said.
"There may have been an increased appetite for bargains in
April after prices fell slightly from March," a senior official
at a Japanese bullion house said.
"In general, demand for gold among retail investors remains
strong," the official said. "Continuing bullish signs in the
domestic economy may also be helping to increase the use of
gold."
Gold imports fell 69.6 percent in March, but had risen more
than 200 percent each month between December and February.
Signs of strength in the Japanese economy appeared to be
keeping demand for industrial use high, analysts said.
Gross domestic product (GDP) data last week showed that the
economy grew by a real 1.4 percent in the first three months of
this year. That translates into 5.6 percent growth on an
annualised basis, outstripping U.S. growth of 4.2 percent.
Geopolitical concerns have kept the spot gold (XAU=) price
buoyant, but wariness over a possible U.S. interest rate rise
have put some pressure on the price.
As for other metals, imports of copper and its alloy products
rose 15.4 percent year-on-year, while imports of aluminium and
its alloy products and non-ferrous ore dropped, the data showed.
The ministry released the following data on metal and
mineral imports in April (figures in tonnes except for gold,
which is in kg):
O Clubeinvest.com informa que nenhuma da informação
aqui facultada deverá ser entendida como conselho ou recomendação
de qualquer tipo de transacção ou investimento.
