Ideally, an increase in a country's wealth would mean that a huge proportion of their middle class also increase their wealth. The result of this is a huge middle class that has a lot of cash to buy luxury goods such as jewelry made of gold and other precious stones. Today, China and India are hungry for more Jewelry than ever in history due to their exponential economic growth.
The wealth in these two countries has been growing over the last couple of years consistently. Overall, it has been speculated that the fact the Chinese have a lot of money to spend could catapult it to a world super power. In fact, this country is currently considered as the fastest growing economy in the world.
The Indians like to buy precious stones during festive seasons and weddings. During festive seasons such as diwali, a lot of money is spent on purchasing jewelry as presents. Also, the Indian middle class population expects the prices of precious stones and metals to go up. This basically spurs the appetite to buy more.
The Chinese communist government has been loosening laws affecting ownership of property amongst its citizens; the ordinary citizens are taking advantage on this to build wealth. A few decades ago, it was illegal to own precious stones in China. This however is not the case today. This fact to some extent has motivated the middle class to purchase such products.
These 2 countries are some of the most populated places on earth. In effect, this would mean that these two countries have some of the biggest middle class population in the world. An increased appetite in purchases on precious stones and metals would mean that these 2 countries would be a significant buyer.
To some extent the fact that diamond and gold appreciates in value over time has motivate people to buy. The middle class looking to preserve capital use jewelry made of gold or diamonds for this. Other products popular with this groups of people include bullion and gold coins. Basically, China and India are hungry for more jewelry thus sparking a huge demand for precious stones and metals. This according to economists has led to an increase in prices of gold and diamonds.
The wealth in these two countries has been growing over the last couple of years consistently. Overall, it has been speculated that the fact the Chinese have a lot of money to spend could catapult it to a world super power. In fact, this country is currently considered as the fastest growing economy in the world.
The Indians like to buy precious stones during festive seasons and weddings. During festive seasons such as diwali, a lot of money is spent on purchasing jewelry as presents. Also, the Indian middle class population expects the prices of precious stones and metals to go up. This basically spurs the appetite to buy more.
The Chinese communist government has been loosening laws affecting ownership of property amongst its citizens; the ordinary citizens are taking advantage on this to build wealth. A few decades ago, it was illegal to own precious stones in China. This however is not the case today. This fact to some extent has motivated the middle class to purchase such products.
These 2 countries are some of the most populated places on earth. In effect, this would mean that these two countries have some of the biggest middle class population in the world. An increased appetite in purchases on precious stones and metals would mean that these 2 countries would be a significant buyer.
To some extent the fact that diamond and gold appreciates in value over time has motivate people to buy. The middle class looking to preserve capital use jewelry made of gold or diamonds for this. Other products popular with this groups of people include bullion and gold coins. Basically, China and India are hungry for more jewelry thus sparking a huge demand for precious stones and metals. This according to economists has led to an increase in prices of gold and diamonds.
About the Author:
Lumiere Diamond Co. offers high quality Diamond Stud Earrings and Engagement rings. We also offer Diamonds as an Investment with exclusive High Grade Investment Diamonds.
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