Angst-Ridden Japanese Investors Seen Seeking Haven in Swiss Gold
By GCRU Gold News on Friday, July 8 2016, 11:24 - Permalink
Japanese investors are buying gold to store in Switzerland because of negative interest rates and fears the yen will depreciate as the government grapples with the heaviest public debt burden in the developed world, according to BullionVault Ltd., an online trading and storage company.
“Many of our Japanese customers think it’s too risky to hold gold bars at home and they want to keep them in Switzerland because they are anxious about the future of Japan,” Whitehouse said in an interview. The country’s growth has stagnated for a decade, defying fiscal and monetary stimulus which has driven up public debt to more than double the value of annual economic output.