“Japanese pension funds, the world’s second-largest pool of retirement assets after the U.S., will more than double their gold holdings in the next two years as the new government pushes for a higher inflation target, according to an adviser to the funds.  New Prime Minister Shinzo Abe’s pledge to spur inflation to 2 percent and end the yen’s appreciation means Japanese pension funds now have to hedge against rising prices and a currency decline after two decades of stagnation. Gold priced in yen reached a record a week ago.”

http://www.bloomberg.com/news/2013-01-08/gold-lures-japan-s-pension-funds-as-government-pledges-inflation.html

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