Apparently, Indians and Chinese buy more gold when their wages go up and I'm pretty sure Chinese people will continue to see wage growth in the future. One reason in particular is that their currency will continue to appreciate. Another reason is that their government debt to GDP is very low. So businesses won't be taxed to death like in the Western world. Besides, they are creditor nations with a lot of foreign exchange reserves.
The WGC issued another report on gold here:
http://www.gold.org/download/file/3543/investment_commentary_looking_into_q4_2014.pdf
In there you can see the correlation between income and gold net worth per capita. The more you earn, the more gold you buy, and the funny thing is that it's exponential. So rich people put more money in gold than poor people. You would expect that the curve were linear. Probably poor people have more basic needs...
The WGC issued another report on gold here:
http://www.gold.org/download/file/3543/investment_commentary_looking_into_q4_2014.pdf
In there you can see the correlation between income and gold net worth per capita. The more you earn, the more gold you buy, and the funny thing is that it's exponential. So rich people put more money in gold than poor people. You would expect that the curve were linear. Probably poor people have more basic needs...
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