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Pan American Metals of Miami says Forecasts for Next Week, and Next Year, are Supportive of Gold | |
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December 05, 2011 Over 90% of experts think gold will continue to rise next week. MIAMI, FL - This week a solid majority, over 90%, of market experts analyzed predicted that gold would continue to rise in the coming week. The majority, albeit not always such a large majority, has predicted rising prices for the past three weeks and has only been correct in the week now ending. Nevertheless, there is good reason to assume the majority may indeed be right this week. The central banks' action to increase liquidity and make it easier and cheaper for European banks to purchase dollars is considered bullish for gold and other precious metals. The markets have already shown increased optimism since the news broke on Wednesday with gold, silver and palladium making significant rallies and platinum rising to around $1550. "The only concern is that gold is still behaving out of character," says Bill Hionas of Pan American Metals of Miami. "It is behaving like a risk asset and moving in tandem with the stock market and the euro. However, the traditional expectation has been for gold to act as a safe haven, which would mean gold moving in the opposite direction. For now, the current situation is bullish for gold but the crisis in Europe is far from solved, despite the renewed optimism. Should the situation worsen or the euro cease to exist as a common currency then we would expect gold and silver to re-emerge as safe havens, even if their value were to drop in the short term." There may well be continued volatility in the precious metals markets in the short term but the long-term scenario is becoming more optimistic, according to many financial experts. Predictions for 2012 are for prices in excess of $2000 for gold and over $750 for palladium, for example. 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/pan-american-metals-of-miami-says-forecasts-for-next-week-a-pr-355867.html |
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