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Okayama Metal & Machinery becomes the first of what could be many Japanese pension funds...

Okayama Metal & Machinery becomes the first of what could be many Japanese pension funds adding gold to their holdings. Japanese rates near zero may be one reason, but the CIO suggests it's more of an interest in gold as a "safe currency." To make room for the purchase, the fund actually sold high-yielding Australian dollars.
Comments (7)
  • Chuck
    , contributor
    Comments (102) | Send Message
     
    OK, I'm a neophyte of only a few decades of trading, etc... but that seems like a Very foolish move to me.
    16 May 2012, 12:09 PM Reply Like
  • winningtrader
    , contributor
    Comments (2476) | Send Message
     
    Looks like the Japanese are also becoming uncivilized (ask Buffett), just like the Indians, Chinese, Vietnamese and others. What is the world coming to?
    16 May 2012, 12:18 PM Reply Like
  • HighSierraTrader
    , contributor
    Comments (7) | Send Message
     
    This isn't news. Okayama Metal and Machinery was reported diversifying into gold a year ago. This article discusses the falling savings rate in Japan and the worries of Japanese savers that are driving them into gold and other assets outside of their traditional favorite investments. http://bit.ly/J8py7L
    16 May 2012, 01:49 PM Reply Like
  • diageek
    , contributor
    Comments (5) | Send Message
     
    is the japanese new term for "herd" ???
    16 May 2012, 03:06 PM Reply Like
  • David Urban
    , contributor
    Comments (1036) | Send Message
     
    Very smart move at these levels.
    16 May 2012, 03:32 PM Reply Like
  • Ohrama
    , contributor
    Comments (506) | Send Message
     
    It may be scary to get into gold now (I rode from GLD 40+ to 100+ when I got out and regret it!) but given what is happening in the great USA with all the debt and IOUs and everyone piling onto the mighty dollar now, we might feel good about it soon.
    16 May 2012, 06:32 PM Reply Like
  • Rain Man
    , contributor
    Comments (4) | Send Message
     
    They are smart enough not to buy Americn Dollars !
    Good Move !
    16 May 2012, 07:14 PM Reply Like
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