According to news reports, Japan imported about 280 tons of gold in 1988, an increase of 40 tons from the previous year. Taiwan, which has been an avid buyer of the precious metal for some time, imported an estimated 300 tons last year.
Two reasons given for the Japanese purchases are lower gold prices and a stronger yen; gold jewelry is proving to be extremely popular with Japanese consumers. Investors in Japan have also taken to buying gold coins.
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