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Tuesday, 27th January 2009 (2055 views)

Tanaka Kikinzoku has stated that it witnessed sales of gold coins more than doubling last year.

The largest gold bullion house in Japan reported that investors were choosing coins in the wake of the global financial crisis.

Tokyo-based Tanaka Kikinzoku reported that sales of gold coins to local investors increased by 121 per cent in 2008 compared with the previous year.

The company sold a total of 158,851 ounces of gold coins in 2008 and has also witnessed a jump in sales of gold bars to local investors in recent months.

"Sales jumped as gold's role as a hard asset came into the spotlight amid a slump in global economies," the Japanese firm told Bloomberg.

Business Intelligence Middle East has reported that high levels of demand for gold coins in Dubai during the emirate's annual shopping festival is leading to shortages.

 

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