{"content":{"sharePage":{"page":0,"digests":[{"id":"34831528","dateCreated":"1298616695","smartDate":"Feb 24, 2011","userCreated":{"username":"kbauer11","url":"https:\/\/www.wikispaces.com\/user\/view\/kbauer11","imageUrl":"https:\/\/ssl.wikicdn.com\/i\/user_none_lg.jpg"},"monitored":false,"locked":false,"links":{"self":"https:\/\/wrightslandofeconomics.wikispaces.com\/share\/view\/34831528"},"dateDigested":1532253338,"startDate":null,"sharedType":"discussion","title":"Letters to the Editor: Change in Gold Demand","description":"First, the article in question that caught my attention--<br \/>\n<!-- ws:start:WikiTextUrlRule:13:http:\/\/www.csmonitor.com\/Business\/The-Daily-Reckoning\/2011\/0224\/Jewelry-drives-up-demand-for-gold --><a class=\"wiki_link_ext\" href=\"http:\/\/www.csmonitor.com\/Business\/The-Daily-Reckoning\/2011\/0224\/Jewelry-drives-up-demand-for-gold\" rel=\"nofollow\">http:\/\/www.csmonitor.com\/Business\/The-Daily-Reckoning\/2011\/0224\/Jewelry-drives-up-demand-for-gold<\/a><!-- ws:end:WikiTextUrlRule:13 --><br \/>\n<br \/>\nAccording to this information, provided by the World Gold Council, demand for gold has risen in developing countries--namely, India and China.<br \/>\n<br \/>\nThis can be explained by several changes in demand. As China and India continue to develop, education improves, which, in conjunction with a growing job market that focuses on technology, leads to higher consumer income. These consumers can then purchase the gold that eludes their poorer counterparts. The article states:<br \/>\n&quot;Last year, 20 million migrant workers in China saw their incomes rise 24 percent,&quot;<br \/>\nshowing a clear rise in income that would lead to a change (increase, in this case) in demand of luxury goods like gold.<br \/>\n<br \/>\nAnother possible change that is shown in the article is a change in consumer taste\/expectation. The article notes:<br \/>\n&quot;Ignited by the Diwali Festival of Lights, Indian jewelry demand rose 47 percent on a year-over-year basis during the fourth quarter of 2010. For the year, Indian jewelry demand rose 69 percent to surpass peak levels set back in 1998.&quot;<br \/>\nJust as Americans buy roses for their loved one on Valentine's Day, and the demand in roses increases, Indians purchased gold for themselves and others as part of the  celebration of a large festival, Diwali.<br \/>\n<br \/>\nAs income continues to rise in China and India, gold demand will undoubtedly go up. However, it will be interesting to note when there's a demand surge for gold in the U.S., as it would signify a stronger economy.","replyPages":[{"page":0,"digests":[],"more":0}]}],"more":false},"comments":[]},"http":{"code":200,"status":"OK"},"redirectUrl":null,"javascript":null,"notices":{"warning":[],"error":[],"info":[],"success":[]}}