Gold rises above JPY 200,000 for first since 1980

Omkar Godbole FXStreet Contributor

Gold prices have crossed above JPY 200,000 for the first time since 1980.

At press time, XAU/JPY is trading at 200,900, having hit a high of 202,852 on Thursday. Prices are up 3.6% on a week-to-date basis and nearly 22% on a year-to-date basis. Japanese Yen gold prices came within 1.2% of January 1980's record top on Thursday, according to bullionvault.com.

Meanwhile, in the US dollar terms, the yellow metal has gained over 24% this year.

The relentless rally in gold, a zero-yield inflation hedge, could be associated with the negative real or inflation-adjusted yield on the government bonds in the US and across the advanced world. The yield on the US 10-year real treasury note fell to a record low of -0.93% on Thursday.

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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