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Gold and Silver Both Ended the Week Slightly Higher reports Pan American Metals of Miami | |
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November 21, 2011 Gold and silver both rose slightly Friday, based on a weaker dollar and some buying from bargain hunters. MIAMI, FL - Italian debt yields fell slightly as the ECB bought bonds but they remained at a level that makes that country's debt repayments unsustainable. A weaker dollar makes gold more affordable for buyers in other currencies but fear of debt contagion continues to make investors nervous. If the European crisis were to worsen, gold could well regain its safe-haven status and prices would soar. Silver should also rebound. The recovery shown Friday by gold and silver followed a week of sharp losses as the euro zone crisis showed no signs of any early solution. This was the sharpest loss for gold since September. Nevertheless, market experts mostly predict rising prices for gold in the coming weeks and months. The recent dip in price has provided a buying opportunity in what remains a bull market. Gold and silver are underpinned by strong physical demand while investment demand is expected to increase as confidence in currencies decreases. The debt issues are not confined to Europe since the US still has to come up with a feasible plan to decrease its budget deficit. "The overall trend for gold and silver is still bullish," says Bill Hionas, "People are rapidly losing faith in fiat currencies, particularly when there is reason to suppose that governments may attempt to solve debt issues with more debt or by printing more money. If there is no faith in currencies, then gold becomes the only viable safe haven." About us: Pan American Metals of Miami, LLC is a group of traders, investors and account executives that combines many years of experience to help clients invest in bullion. PAMM provides an individual investment service and is based in Miami, Florida for convenient access to both North and South American investors. Website: http://www.panamericanmetalsofmiami.com Press Contact Debbie Bailey Executive Administrator Pan American Metals of Miami, LLC Email: dbailey@investpanam.com Website: http://www.panamericanmetalsofmiami.com Source: http://www.1888pressrelease.com/gold-and-silver-both-ended-the-week-slightly-higher-reports-pr-351799.html |
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