Veteran investor Caesar Bryan says Japanese retail investors will buy up gold en masse as the country’s politicians push to keep the official currency low.
Bryan of Gabelli & Company said to King World News that Japanese opposition leader Abe has indicated he will push for the Bank of Japan to aggressively weaken the yuan once elected in order to alleviate the country’s protracted economic woes.
Bryan expects Abe to be elected Prime Minister during the next election as well as for the yen to weaken as a consequence. This in turn will serve as a major spur for demand for gold and stocks amongst the Japanese public.
But it seems to me that the Japanese are close to some sort of agreement on weakening the yen. This will spur demand for gold from the Japanese public. Up to now the Japanese have been relatively quiet when it comes to gold, but I think things are stirring. If you look at the gold price in yen, it’s right back to the highs from February. So gold has had a good run as the yen has weakened.
