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Price of gold in 1989: ~2000 yen/g

Price of gold in 2024: 9,800 yen/g

Here's data for the price of gold over the same period in USD, showing almost same 5x increase. Could you explain the relevance of either to this story about the Nikkei?

Price of gold in 1989: ~$370 USD/oz

Price of gold in 2024: ~2000 USD/oz

The relevance is that this is not remotely an all-time high when denominated in gold (and, presumably, an implicit claim that a valuation in gold is in somehow more "real" than a valuation in nominal yen)

That’s idiotic because nobody actually deals in gold. It just means gold appreciates some amount.

The way this is handled is standard inflation adjustment based on things people actually use.

Okay. But denominating in gold is a weird thing to do and only looks this way when you pick specific dates. Pick 1987 and 2000 as your dates and things look very different.

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