Japanese gold vendors unveil a 300-thousand U.S. dollar gold calendar for
2009 just as the markets slump in 2008.

(ASIA) TOKYO, JAPAN (NOVEMBER 06, 2008) REUTERS -
In an attempt to bring the glitter back in the coming year, one
Japanese gold maker unveiled on Thursday (November 6) a pure gold calendar for
the year 2009.
The 67 centimetre (26.3 inch) by 42 centimetre (16.5 inch) calendar has
all the days of the next year printed on one side.
Weighing in at six kilograms (13.2 pounds), it is no paperweight
ornament.
The price tag of 30 million yen or $300 thousand U.S. dollars is not
lightweight either.
"We're selling this gold calendar for 30 million yen just like we
did last year. The price of gold has declined recently, but it was much higher
at the beginning of this year when we first decided to sell this calendar. We
finally decided to go with 30 million, which was within our price range,"
Naoto Mizuki, marketing manager at Ginza Tanaka told Reuters on Thursday.
Gold was trading at $738.65 U.S. dollars an ounce on Thursday, down
$1.95 U.S. dollars an ounce from New York's notional close on Wednesday
(November 5), when it dropped around $20 U.S. dollars due to a firmer dollar
and tumbling oil.
The bullion market has fluctuated wildly over the past year and while
it was still down from a two-month high of $931 U.S. dollars an ounce hit in
October, gold is significantly higher than a 13-month low of $680.80 U.S.
dollars also struck last month.
"In 2008 the price of gold fluctuated pretty wildly. However
before the subprime loan issue and the ongoing financial crisis - which some
even refer to as another great depression - I would not have imagined how much
gold would become relied on as a safe haven investment," Mizuki added.

While the drop in the equity markets has hurt gold prices somewhat,
people fearful of their bank deposits and money market accounts have flocked
to buy gold jewelry and coins.
Gold dealers around the world reported that physical gold buying has
soared, particularly in top consumer India and in the Middle East.
In Tokyo's Ginza Tanaka however, shoppers were not rushing to buy the
30 million yen calendar.
"With our ordinary lifestyle, I can't even imagine purchasing one,
but it does look very luxurious when placed in a store," said Tomoko
Hashiyama, 62-year-old customer.
Nevertheless Ginza Tanaka says it's been selling these calendars every
year since 2006 at the same price.
Every year they have had buyers each time looking to brighten up their
new year.