Tuesday, 15 October 2024, 5:40 PM
Gold Unit | Japanese Yen | U.S. Dollar |
---|---|---|
Gold Ounce | 398,266.97 | 2,664.56 |
Gold Gram Karat 24k | 12,806.01 | 85.68 |
Gold Gram Karat 22k | 11,730.31 | 78.48 |
Gold Gram Karat 21k | 11,205.26 | 74.97 |
Gold Gram Karat 18k | 9,604.51 | 64.26 |
Gold Gram Karat 14k | 7,491.52 | 50.12 |
Gold Gram Karat 12k | 6,403.01 | 42.84 |
Gold Gram Karat 10k | 5,340.11 | 35.73 |
Gold Gram Karat 9k | 4,802.25 | 32.13 |
Gold Gram Karat 8k | 4,264.40 | 28.53 |
In Japan, the most commonly used gold karats are 18K, 14K, and 24K, each with distinct characteristics and applications. 18K gold is particularly popular, comprising 75% gold and 25% other metals. This balance gives it a rich color and durability, making it ideal for fine jewelry. 14K gold, containing 58.3% gold, is also widely used, especially in more affordable pieces. Its strength and resistance to wear make it a practical choice for everyday items.
At the highest end, 24K gold is pure gold (99.9%), celebrated for its luster and softness. While it is less common for jewelry due to its malleability, it is favored for investment and traditional cultural items. On the other hand, 22K gold is occasionally used in Japan, containing 91.7% gold, but is less prevalent than the other karats mentioned. Additionally, 10K gold, comprising 41.7% gold, is rarely found in Japanese markets. Overall, 18K and 14K gold dominate the landscape, catering to a blend of luxury and practicality for consumers in Japan.
The price of gold in Japan, as in many countries, is influenced by various factors including global market trends, currency strength, and local demand and supply dynamics. International gold prices are typically set in US dollars, and fluctuations in the dollar's value relative to the Japanese yen play a significant role in determining local gold prices. When the dollar weakens, the price of gold tends to rise in yen and vice versa.
Additionally, domestic demand for gold in Japan, driven by cultural preferences for gold jewelry and investment, impacts pricing. Festivals and wedding seasons can lead to spikes in demand, further affecting prices. The Tokyo Commodity Exchange (TOCOM) is a primary platform where gold is traded, and prices can reflect speculative trading, government policies, and economic conditions.
Moreover, trends in global economic stability also influence gold prices. In times of economic uncertainty, gold is often viewed as a safe-haven asset, leading to increased demand and higher prices. Thus, the gold price in Japan is a complex interplay of both international and local economic factors.
The outlook for gold prices in Japan continues to attract significant attention from investors and analysts alike. As of late 2023, various factors are influencing price predictions, including global economic trends, currency fluctuations, and geopolitical tensions. Strong demand for gold as a safe-haven asset is expected to persist, especially amidst ongoing uncertainties in the global market.
Many experts predict that gold prices may experience upward pressure, particularly if the Japanese yen continues to weaken against major currencies. A depreciating yen often leads investors to seek refuge in gold, pushing prices higher. Additionally, the Bank of Japan's monetary policies, especially if interest rates remain low, could further bolster gold's appeal.
Furthermore, fluctuations in demand from key markets, including India and China, can directly impact Japan's gold market. If global economic conditions worsen, investors are likely to flock to gold, reinforcing its status as a secure investment. In summary, the consensus suggests a cautiously optimistic outlook for gold prices in Japan, with potential for gains in the coming months as various economic factors play out.
Date | Gold Ounce | Gold Gram Karat 24 | Gold Gram Karat 22 | Gold Gram Karat 21 | Gold Gram Karat 18 | Gold Gram Karat 14 |
---|---|---|---|---|---|---|
14 October 2024 | 397,042.75 | 12,766.65 | 11,701.82 | 11,168.57 | 9,571.91 | 7,449.21 |
11 October 2024 | 396,226.88 | 12,740.41 | 11,677.77 | 11,145.62 | 9,552.24 | 7,433.90 |
12 October 2024 | 396,646.29 | 12,753.90 | 11,690.14 | 11,157.42 | 9,562.35 | 7,441.77 |
11 October 2024 | 393,261.91 | 12,645.08 | 11,590.39 | 11,062.22 | 9,480.76 | 7,378.27 |
10 October 2024 | 390,169.70 | 12,545.65 | 11,499.25 | 10,975.24 | 9,406.21 | 7,320.26 |
9 October 2024 | 388,753.92 | 12,500.13 | 11,457.53 | 10,935.41 | 9,372.08 | 7,293.69 |
8 October 2024 | 391,629.62 | 12,592.59 | 11,542.28 | 11,016.30 | 9,441.41 | 7,347.65 |
7 October 2024 | 393,005.29 | 12,636.83 | 11,582.83 | 11,055.00 | 9,474.57 | 7,373.46 |
6 October 2024 | 394,496.05 | 12,684.76 | 11,626.76 | 11,096.94 | 9,510.51 | 7,401.43 |
5 October 2024 | 394,496.05 | 12,684.76 | 11,626.76 | 11,096.94 | 9,510.51 | 7,401.43 |
4 October 2024 | 390,058.67 | 12,542.08 | 11,495.98 | 10,972.11 | 9,403.54 | 7,318.17 |
3 October 2024 | 389,275.88 | 12,516.91 | 11,472.91 | 10,950.10 | 9,384.66 | 7,303.49 |
2 October 2024 | 381,336.90 | 12,261.64 | 11,238.93 | 10,726.78 | 9,193.27 | 7,154.54 |
1 October 2024 | 380,970.97 | 12,249.87 | 11,228.15 | 10,716.48 | 9,184.45 | 7,147.67 |
30 September 2024 | 378,063.80 | 12,156.39 | 11,142.46 | 10,634.71 | 9,114.36 | 7,093.13 |
29 September 2024 | 377,071.64 | 12,124.49 | 11,113.22 | 10,606.80 | 9,090.44 | 7,074.51 |
28 September 2024 | 377,071.64 | 12,124.49 | 11,113.22 | 10,606.80 | 9,090.44 | 7,074.51 |
27 September 2024 | 390,606.97 | 12,559.71 | 11,512.14 | 10,987.54 | 9,416.75 | 7,328.46 |
26 September 2024 | 384,861.67 | 12,374.97 | 11,342.81 | 10,825.93 | 9,278.25 | 7,220.67 |
25 September 2024 | 381,260.64 | 12,259.18 | 11,236.68 | 10,724.63 | 9,191.43 | 7,153.11 |
24 September 2024 | 379,934.02 | 12,216.53 | 11,197.58 | 10,687.31 | 9,159.45 | 7,128.22 |
23 September 2024 | 378,703.41 | 12,176.96 | 11,161.31 | 10,652.70 | 9,129.78 | 7,105.13 |
22 September 2024 | 377,700.81 | 12,144.72 | 11,131.77 | 10,624.50 | 9,105.61 | 7,086.32 |
21 September 2024 | 377,493.44 | 12,138.05 | 11,125.65 | 10,618.66 | 9,100.61 | 7,082.43 |
20 September 2024 | 368,585.50 | 11,851.62 | 10,863.12 | 10,368.09 | 8,885.86 | 6,915.30 |
19 September 2024 | 366,569.24 | 11,786.79 | 10,803.69 | 10,311.37 | 8,837.25 | 6,877.47 |
18 September 2024 | 362,469.25 | 11,654.96 | 10,682.85 | 10,196.04 | 8,738.41 | 6,800.55 |
17 September 2024 | 362,783.50 | 11,665.06 | 10,692.12 | 10,204.88 | 8,745.99 | 6,806.44 |
16 September 2024 | 362,206.70 | 11,646.52 | 10,675.12 | 10,188.66 | 8,732.08 | 6,795.62 |
15 September 2024 | 363,914.74 | 11,701.44 | 10,725.46 | 10,236.70 | 8,773.26 | 6,827.67 |
In Japan, gold making charges can significantly impact the overall cost of purchasing gold jewelry. Typically, these charges are expressed as a percentage of the gram price of gold, reflecting the craftsmanship and design intricacies involved in creating jewelry pieces. On average, the making charges can range from 10% to 20% of the gold price per gram.
For example, if the current gold price in Japan is approximately 7,000 JPY per gram, the making charges could add between 700 JPY and 1,400 JPY per gram to the final price, resulting in a total cost of 7,700 JPY to 8,400 JPY per gram for consumers. Factors such as the type of jewelry, the brand, and the complexity of the design can influence the exact making charges.
Moreover, local jewelers may have different pricing structures, leading to variations in making charges. Buyers in Japan should be aware of these additional costs when purchasing gold jewelry to make informed decisions and compare different options effectively.