Platinum Price in Japanese Yen (JPY)
Track the live platinum price in Japanese yen per troy ounce and per gram. Real-time XPT/JPY charts reflecting both platinum spot movements and USD/JPY exchange rate dynamics.
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Japan's Love for Platinum
Japan is one of the world's largest platinum markets, with strong demand for platinum jewelry and investment products. Japanese consumers have traditionally favoured platinum for engagement rings and fine jewelry.
- Japan accounts for a significant share of global platinum jewelry demand
- TOCOM/JPX offers yen-denominated platinum futures
- Platinum jewelry is the traditional choice for engagement rings in Japan
- Tanaka Kikinzoku is a leading platinum bar and coin dealer
- USD/JPY weakness amplifies platinum returns for Japanese investors
- Long-term CGT benefit: platinum held 5+ years qualifies for 50% gains deduction
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Frequently Asked Questions
Why is platinum popular in Japan?
Platinum holds a special cultural significance in Japan, where it is the preferred metal for engagement rings and wedding bands. Unlike most Western countries where gold dominates the bridal jewelry market, Japanese consumers have long favoured platinum for its rarity, durability, and distinctive silver-white lustre. Japan consistently ranks as one of the top global consumers of platinum jewelry, and this deeply rooted cultural preference has made the Japanese market critically important to the global platinum industry.
How is platinum traded in Japan?
Platinum can be traded in Japan through several channels. TOCOM (Tokyo Commodity Exchange), now part of the Japan Exchange Group (JPX), offers yen-denominated platinum futures contracts that serve as a key pricing benchmark for the domestic market. For physical platinum, Tanaka Kikinzoku and other established precious metals dealers sell platinum bars and coins in various sizes. Many Japanese investors also participate in platinum accumulation plans, which allow for regular monthly purchases similar to gold accumulation plans.
How is platinum taxed in Japan?
Platinum profits in Japan are taxed under the same framework as gold. Gains from selling platinum are classified as miscellaneous income and are subject to income tax. However, platinum held for more than five years qualifies for long-term capital gains treatment, where only 50% of the gain (after a 500,000 yen annual exemption) is added to your taxable income. For holdings of five years or less, only the 500,000 yen exemption applies, with the full gain being taxable. This structure strongly incentivizes holding platinum for the longer term.
Has yen weakness boosted platinum prices?
Yes, the weakening of the Japanese yen has had a significant amplifying effect on the platinum price in yen terms. When the yen depreciates against the US dollar, the yen-denominated platinum price rises even if the international USD spot price remains unchanged. In periods where platinum prices are also rising in dollar terms, Japanese investors experience a double tailwind from both the rising commodity price and the falling currency. This dynamic has made platinum an effective hedge against yen depreciation for Japanese investors in recent years.