All that glitters might be gold in Miami

August 30, 2013 by  

If gold is a panacea for a failing economy, than Miami is moving into a stronger position. Last year, among the U.S. custom districts, Miami imported the most gold with lion’s share of it, both coming and going, passed through the Miami International Airport. Among the city’s imports and exports, gold ranked number one for the first time last year.

Miami’s greatest strength lies in the diversity of its economy. Its classification as an Alpha-World city is derived from being at the forefront of many industries such fashion, media, finance, art, entertainment, and commerce. With the addition of gold across several platforms, Miami tightens its hold on its Alpha -World designation. South Florida, of which Miami is the nexus, is home to Republic Metals Corp, one of North America’s biggest precious metal refineries. We are also a hub for financing gold purchases, assaying and bullion trading.

For security reasons, most participants in the Miami gold trade prefer to maintain a low profile. However, letting the gold genie out of the bottle elevates the financial reputation of our city. Jewelry store owners might consider it a good advertising move to contact their print company and revamp their brochures or catalogs to include Miami’s position in the gold market. Once aware of our prominence in gold refining and selling, visitors to our city might be more inclined to make their gold purchases here and realize that the area has a rich heritage in the gold industry.