Media learned about the sale of precious metals from cremated bodies in Japanese cities

Dozens of cities in Japan are selling precious metals, which are obtained from cremated remains of dead people. This was reported by Nikkei newspaper on September 23.

The publication noted that in Japan every year cremate more than 1.5 million people, and about 97% of crematoriums in the country belong to the state. Ashes and large bone remains are usually given to the family of the deceased for burial. However, ashes are left behind after incineration, and the law does not precisely define to whom they should belong.

Such ashes often contain metals of value, such as gold and palladium from dental fillings or titanium from bone implants.

Nikkei conducted a survey in July that found 42 (48%) of Japan's 88 major cities sold materials derived from the ashes of the deceased. Only 45% of them informed their residents that they were conducting such activities. Until 2023, the cities received 6.49 billion yen (about $45 million) from this, with 2023 revenue from such sales exceeding 2019 revenue 3.4 times. Kyoto, in particular, received 303 million yen (about $21 million) for 2023. This is due to the increase in mortality and the cost of metals.

The newspaper also asked Japanese people in cities how they felt about such metal sales, and 30 percent of those surveyed said they would like regulations for this activity and they should be drafted by the Japanese government. Takako Tamagawa, an associate professor at Nagoya Gakuin University's Faculty of Contemporary Social Studies, told the newspaper that cities should report to residents on the revenues generated in this way and tell them what the proceeds are used for. This will help develop an understanding between local authorities and citizens.

Earlier, on August 20, the cost of gold on the Comex exchange broke a record: the price of December futures for this precious metal reached $2556.25 by 11:14 Moscow time during trading.

Nikolay Dudchenko, an analyst at Finam Financial Group, told Izvestia on August 1 that gold price growth may continue for a year or two years and reach $2700. The reasons for such growth lie in the events in the Middle East and signals from the US Federal Reserve System (FRS) on the key rate.