Burgeoning middle class in both countries is buying gold.
(1888PressRelease) September 23, 2011 - MIAMI, FL - It is perhaps easy for the average man in the street to underestimate the tremendously fast-growing economies in the emerging markets of India and China. After all, not so long ago we considered these nations to be third world, primitive; the only form of transportation in China appeared to be bicycles and communism seemed at odds with a successful capitalist society.
Without doubt, both nations still have large numbers of their populations living in poverty; however, the middle class is growing exponentially, saving a large proportion of its disposable income and looking for a feasible alternative to the low interest rates available from the banks. Additionally, both countries have considerable cultural affinity to gold and the burgeoning middle classes are buying gold jewelry and gold ornaments, both for themselves and for gift-giving, especially at weddings and other major celebrations. Despite the fact that there is still a huge imbalance between the wealthy and the impoverished, the economic growth for these nations far outstrips that of Europe or the US; in fact, China is now the second largest economy in the world.
"We have to realize that Asia is a major player in the gold bullion market and can greatly impact prices," says Bill Hionas of Pan American Metals of Miami.
Between them, India and China account for over 50% of the demand for gold globally. Gold represents security for old age and a way to generate wealth. The approach to gold purchases is different to that of western investors. The Asian buyers tend to be interested in building wealth and saving for the future; they tend not to be desperately searching for safe havens or speculating in the hope of turning a quick profit.
About us:
Pan American Metals of Miami, LLC is a group of traders, investors and brokers who combine many years of experience to help clients invest in bullion. PAMM provides an individual investment service and is based in Miami, Florida for convenient access to both North and South American investors.
Burgeoning middle class in both countries is buying gold. 
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