We were the world’s largest consumers of gold before oil was even an issue. What makes you think we are going to stop now?
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Studio City, CA (PRWEB) June 13, 2006
Investors the world over are beginning to benefit from what looks’ like the end of a two decade long bear market -- in gold! Yes, gold demand along with the price of the precious metal has been rising steadily for the last several years now, with no signs of slowing in the near future.
One of the main reasons -- a growing middle class in India and China. By 2010 they are expected to eclipse the demand experienced by Americans in the 70s five fold. During that time Americans drove up the price of gold a whopping 2400% after suppressing the price for almost 40 years. Now with Chinese citizens being able to own gold for the first time since 1948, Wall Street is starting to take notice. Marc Lubaszka, President of World Financial the premiere provider of precious metals to households worldwide had this to say, “It seems China’s appetite for oil will not be quenched by any means reasonable and their economists and government officials have certainly been studying what happened here in America’s history. They are very determined and are really looking at how gold benefited from high oil back in the 70s.” This may be part of the reason the Central Bank of China made a public decision to acquire 100’s of additional metric tons of gold earlier this year.
And China is certainly not alone. India, the world’s largest consumer of gold is producing some of the most intellectually sound and well rounded individuals on the planet. “We were the world’s largest consumers of gold before oil was even an issue. What makes you think we are going to stop now?” said Indian Bank’s official S.K. Bandyopadhyay in an exclusive interview released earlier this month.
So while many Americans are feeling the strain at the pump even more Asians are preparing for global inflation by taking the most predictable action possible -- they’re continuing to buy gold.
For more information about how to buy gold or other precious metals, contact World Financial at 12198 Ventura Blvd. Ste 200, Studio City, CA 91604; 818.264.4085; fax 818.508.6597. Or visit http://www.worldfinancialdaily.com/