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Monday, 23rd March 2009 (596 views)

A growing number of Japanese investors are choosing gold as their preferred method of safeguarding their finances during the recession.

Recent months have brought previously unseen numbers of customers signing up to the gold accumulation plans offered in the country, Bloomberg reports.

According to Tanaka Kikinzoku Kogyo, which offers one such scheme, the number of new customers registering each month has increased from no more than 1,000 to 4,000 since October of last year.

And the precious metal is ideally-suited to the "slow and steady approach" younger Japanese professionals take to investment, managing director of Market Strategy Institute Koichiro Kamei, told the news source.

The popularity of gold is increasing around the world as a result of the recession, with Joseph Foster of Van Eck Associates recently telling the Gold Report that the outlook for the precious metal is "favourable", as a continued lack of credit could see its price rise further in the months to come.

 

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