About Gold Pricing in Tokyo
Japan is one of the world's top-10 gold consumers, and Tokyo's Tanaka Kikinzoku Kogyo is Asia's largest gold refiner and dealer. The TOCOM (now Osaka Exchange) gold futures contract is Japan's primary gold derivative market.
Japan's long period of yen weakness (JPY depreciation vs USD) has dramatically amplified gold prices in JPY terms. For Japanese investors, gold has not just preserved purchasing power — it has significantly gained in local currency terms as the JPY weakened from 110 to 150+ vs USD.
Japan applies 10% consumption tax on gold purchases. Tanaka Kikinzoku (Ginza flagship) sets Japan's retail gold price benchmark. Compare Tokyo to Singapore and Hong Kong on the Arbitrage Table.
Frequently Asked Questions — Gold in Tokyo
What is the gold price today in Tokyo? +
Tokyo gold price = COMEX spot × JPY/USD rate (~149.8). Japan applies 10% consumption tax on gold purchases. AURUM shows the pre-tax COMEX equivalent, updated every 5 seconds.
How has yen weakness affected Japanese gold investors? +
Significantly positive: as JPY depreciated from ~110 to ~150 vs USD since 2021, Japanese investors holding gold saw gains in JPY terms amplified beyond the USD gold price rise. Gold in JPY rose ~80% over this period vs ~40% in USD terms.
What is TOCOM? +
TOCOM (Tokyo Commodity Exchange), now part of Osaka Exchange, operates Japan's gold futures market. TOCOM gold is priced per gram (not per troy oz) — a distinctly Japanese convention. TOCOM prices track COMEX closely with time-zone adjustments.
What is Tanaka Kikinzoku? +
Tanaka Kikinzoku Kogyo (founded 1885) is Japan's largest precious metals refiner and dealer. Their Ginza store sets Japan's retail gold price benchmark. Tanaka bars are the most trusted domestic investment gold product in Japan.
Is gold consumption tax charged in Japan? +
10% consumption tax applies to gold purchases in Japan. This affects both jewellery and investment gold (unlike UK/UAE which exempt investment gold). Factor this into cost comparisons vs Singapore (GST-exempt investment gold).