Quote:
Originally Posted by slapass
That is pretty interesting. I wonder what % of the world market they are?
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Not sure but most Asians look at gold differently than westerners do. It has always been important to them and it is given for wedding presents, religious holidays, and so on. Husbands give even gold to parents to pay the dowry on his wife. It's DEEPLY rooted into Asian culture and is used to keep their wealth instead of cash. You can even buy things with gold, such as homes and cars a lot of the time. It's always been this way and it always will be.
That said, they do not generally use silver like westerners do. We can get raw silver ingots here for cheap (freshly mined) because the locals are not interested in them other than for making cheap jewelry made my hill tribe people. But for wealth protection, it's all about gold for them and it stems from the Chinese.