White metals should improve, based on industrial demand.
(1888PressRelease) October 02, 2011 - MIAMI, FL - Gold is continuing to rise, following extensive buying activity at the lower prices. A majority of analysts predicts higher prices for gold in the coming week, possibly breaking back through $1700. It appears that gold has hit bottom and is now firmly on its way back up. The worst of the liquidation-based selling seems to be over and there is considerable demand coming from India. The main negative, as far as gold is concerned, is a possibly stronger dollar; as concerns continue over the European debt issues and the dollar is gaining strength.
Meanwhile, the white metals are not faring so well, showing small losses. However, both Toyota and Honda have announced a return to full production, which should increase industrial demand for the platinum group metals.
"Signs indicate that we should start to see prices rising for all precious metals in the coming weeks," says Bill Hionas of Pan American Metals of Miami. "October is generally the worst month of the year for gold, but we anticipate continued demand from India as we approach their major festival later in the month. India is now one of the major buyers of gold bullion."
It is likely that the volatility will continue for a little longer but it does seem that the trend is now going to be mainly bullish for precious metals bullion. Investors interested in increasing their precious metals holdings should contact Pan American Metals of Miami; PAMOM's team of traders and brokers is able to offer advice tailored to the specific needs of each individual investor.
Pan American Metals of Miami, LLC is 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.