The gold bullion market is expected to see a significant increase in demand ahead of the Lunar New Year, which commences January 23.
(1888PressRelease) January 17, 2012 - MIAMI, FL - Gifts of gold coins for younger members of the family are traditional during the Lunar New Year celebrations, a time when increased gold buying from many Asian nations is anticipated.
The Chinese economy, growing at close to 10% per annum, may be slowing but this is likely to affect gold less than any other commodity. China's burgeoning middle class shows a strong desire for the yellow metal as an investment. The Chinese, generally speaking, are not speculators but are interested in building up a store of gold with the idea of keeping it as a long-term investment. Additionally, there is considerable demand from manufacturers of jewelry; China is beginning to overtake India as the world's largest buyer of gold jewelry and rising levels of disposable income will only serve to increase this demand.
"Last year saw a significant increase in the purchase of gold bullion and coins by China in addition to an increase in demand for gold jewelry," says Bill Hionas, CEO of Pan American Metals of Miami. "China is now buying more gold jewelry than India, previously the world's largest buyer of gold. The People's Bank of China also continues to stockpile gold."
Physical demand from India has fallen off recently due to the high cost of gold in rupees. Although the rupee has gained value recently, it remains something of a 'Catch 22' as far as gold is concerned; if gold gains in price then it seems Indians are reluctant to buy yet, if gold drops in price and demand picks up then, naturally, the price also rises once again.
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Pan American Metals of Miami, LLC is a group of traders, investors and account executives that combines 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.
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Pan American Metals of Miami, LLC
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The gold bullion market is expected to see a significant increase in demand ahead of the Lunar New Year, which commences January 23. 
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