Loading ...There is no credible evidence that Japan’s #1 gold dealer (commonly recognized as Tanaka Kikinzoku Kogyo, headquartered in Ginza) has instituted a policy restricting physical gold sales in favor of cash settlement.
🔍 What we know:
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Tanaka Kikinzoku Kogyo remains Japan’s largest bullion dealer, handling physical spot, forward, swaps and more—actively engaged in physical gold transactions, both domestically and internationally State Street Global Advisors+15gold.tanaka.co.jp+15seasia-consulting.com+15.
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Retail gold prices have recently surged (reaching record levels around ¥16,885 / g in mid‑June 2025), but Tanaka still offers physical bar sales at its Ginza store and via online delivery, with no reported shift to cash-only settlements ousei.co.jpState Street Global Advisors.
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There is no official announcement or credible reporting that Tanaka (or any other major Japanese bullion dealer) has restricted physical gold delivery, halted bar sales, or forced cash settlements.
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While some smaller Japanese dealers (e.g. Ishifuku) have previously imposed temporary purchase restrictions during periods of high demand—such as limiting quantities per person or requesting cash transfer payments—for silver bullion specifically, not gold—and not as a permanent policy—it was tied to temporary stock shortages, not company‑wide strategy changes in gold delivery policy Reddit.
🧠 Community chatter vs. reality:
Online forums and speculation have noted delivery delays or shortages in Western physical bullion markets (e.g. London, COMEX), often tied to shifting regulations (e.g. Basel III requirements) or logistical bottlenecks Reddit+2Reddit+2Reddit+2.
However, none of these external issues apply to Tanaka’s operations in Japan. There is no evidence these supply chain pressures have translated into an official pivot to cash settlement at the retail level.
✅ Summary table
| Claim | Verified? | Notes |
|---|---|---|
| Japan’s No. 1 gold dealer restricted physical delivery in favor of cash settlement | ❌ No | No official or reputable reporting supports this. Tanaka continues normal physical operations. |
| Temporary purchase caps at dealers like Ishifuku | ✅ Yes, but only for silver | Mostly due to stock shortage events, not long-term gold policy changes gold.tanaka.co.jp+1seasia-consulting.com+1Reddit+3Reddit+3Reddit+3. |
| Global bullion market liquidity issues | ✅ Yes (London/COMEX), but not tied to Japan | These issues reflect broader global constraints, not Japanese domestic gold retail policies. |