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

|By:, SA News Editor

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.