In the popular high-end customer market, 5 to10kg gold bars or 100 to 500 1 oz gold coins are packed in traditional treasure boxes, of which1000g and 500g gold bars are the most popular. Most of them are imported gold ingots made by melting London gold, and the brands of Tanaka, Mitsubishi and Sumitomo are the most famous. The retail price difference of 2 100 yen per gram of gold ingots is 60 yen per gram, accounting for about 3%. The reason why such an expensive price difference can be accepted by customers is that customers value the reputation of retailers more and are willing to pay a higher premium for it. In 2006, Japan sold 22 tons of 2000 cases, 68 tons of gold bars, 1 1 ton of gold and silver coins. In 2007, the number of gold bars sold back increased sharply, and a large number of second-hand gold bars were melted and then resold. Japan's middle class is the main force of gold investment and consumption. In Japan, the middle class mainly participates in a gold investment business called "Gold Accumulation Plan". The "gold accumulation plan" means that customers buy gold at a fixed yen every month. When the price of gold is low, they buy more, and when the price of gold is high, they buy less. When the contract expires, the gold accumulated by the customer can be cashed, or delivered in the form of gold nuggets and coins, or converted into gold jewelry. The starting point of this plan is 3000 yen per month, and the handling fee is 1% to 2%. It's usually a one-year contract, but customers can buy it for three to five years in a row. The gold accumulation plan is aimed at investors aged between 20 and 50. For female customers, whether the contract can be converted into gold jewelry is an important consideration, so there is competition between the quality of various styles of jewelry products and gold jewelry. Gold is kept in allocated or unallocated accounts. In the distribution account, if the contractor goes bankrupt or goes bankrupt, the customer's gold reserve can be protected. In undistributed accounts, gold can be rented, and customers will get a small amount of fixed income return, but gold is not protected.
The gold accumulation plan has a wide range of operators, including mining companies (such as Mitsubishi Materials and Sumitomo Metal Mine), gold and silver institutions (such as Tanaka Precious Metals), comprehensive trading companies (such as Sumitomo, Mitsui and Mitsubishi) and futures companies. Commercial banks and credit card companies play the role of gold accumulation retailers under the protection of these wholesalers. According to the statistics of the World Gold Council, Japan's gold accumulation plan opens 480,000 accounts every year to store about 190 tons of gold for customers. In 2006, the gold accumulation plan was promoted as part of the personal pension plan for baby boomers. Pay off 5 billion yen in one lump sum in the next three years, so the competition among banks in this market will be extremely fierce. Japan's gold futures market plays an important role. TOCOM is the largest commodity futures exchange in Asia, and its annual trading volume of gold futures is second only to new york market, ranking second in the world. The gold trading contract unit of the Exchange is 1 kg, and the initial margin of each contract is 90,000 yen (about 5% of the transaction amount), the commission is 300 to 500 yen, and the daily fluctuation is limited to 60 yen/gram. In 2005, the trading volume of gold futures on Tokyo Industrial Products Exchange was 17958 tons, and in 2006, the trading volume of gold futures contracts increased by 24%, reaching 22 million, about 22,228 tons.