(1888PressRelease) September 21, 2011 - MIAMI, FL - The annual LBMA conference is taking place in Montreal from Sunday September 18 to Tuesday September 20. Among many speeches and discussions that have taken place at the conference, the consensus is a healthy prediction for gold prices in the near future.
Precious metals strategist with BNP Paribas, Anne-Laure Tremblay, mentions the uncertainty that is continuing to dominate the markets in the near term, which is supportive to gold; CIBC's Avery Shenfeld says low interest rates are supportive to gold, pointing out that economic concerns persist even though the US is not yet in recession; while keynote speaker, Pierre Lassonde, draws attention to the fact that Asian central banks are amassing gold and that they are likely to take advantage of any pullbacks as buying opportunities.
"All of this points to a positive outlook for the price of gold bullion in the near term," says Bill Hionas. "It is normal to expect corrections from time to time and savvy investors will use these to increase their bullion holdings."
It is anticipated that silver may also increase in value, especially if, or when, gold reaches $2000. However, the white metals still depend heavily on industrial demand and will increase in value when the economy improves and the industrial sector strengthens. The platinum group metals, in particular, are reliant on the strength of the automotive industry where they are used in the manufacture of catalytic converters.
Bill Hionas leads a highly experienced investment team at Pan American Metals of Miami, a precious metals brokerage located in Miami, Florida. PAMOM's team offers advice to clients wishing to purchase precious metals bullion.
About Bill Hionas:
Bill Hionas is CEO of Pan American Metals of Miami, LLC, a group of traders, investors and brokers who combine 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.