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February 11, 2009 |
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Commodity Online
MUMBAI: Japan is witnessing a new surge in investments in gold. According to reports from various media groups, Japan’s retail investors are increasingly banking on online gold investments.
Following the global meltdown, Japan’s retail investors are now scouting for opportunities for alternative investments.
Japan’s risk-averse retail investors are estimated to hold $16.4 trillion, more than half of it in cash and deposits.
The fact which is prompting Japanese investors to rush for online gold investments is that gold remains unscathed by such declining industrial demand while retaining merit as an asset.
Dot Commodity, Inc, Japan’s top online commodity trading firm, with about 20,000 accounts against some 50 initially, and assets of $87.45 million, told news agencies that it is second in the online commodity trading industry in volume terms.
The company is drawing interest from seasoned online traders who are turning to commodities for high returns, as Japanese stocks have plunged and the yen has strengthened.
Reflecting the popularity of the yellow metal as an investment, the open interest in the gold mini contract, launched in July 2007, hit a record high 83,428 contracts on January 8, according to Tokyo Commodity Exchange Inc (TOCOM), exceeding that of the standard gold contract.
While Japanese retail investors are waking up to the attraction of commodity investment, the pace of growth may be moderate.
About 20 per cent of those investing in gold are investing in TOCOM’s gold mini contract and about 10 per cent are actively trading.
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