Any dip below $1600 offers a potential bargain for investors.
(1888PressRelease) December 28, 2011 - MIAMI, FL - The price of gold is hovering around the $1600 mark but slipped just below this morning. During this final week of the year, trading is necessarily thin; the New York exchange re-opened this morning after the Christmas holiday but many fund managers have already squared their books ahead of the end of the year.
"If we anticipate prices next year reaching $2000 an ounce for gold, which is something many market experts consider realistic, then any dip in price under $1600 must represent a buying opportunity," says Bill Hionas, CEO of Pan American Metals of Miami. "With far fewer trades taking place during this quiet period, trends can easily become exaggerated. Gold is holding firm around $1600 for now, savvy investors who are ready to jump into the market could find themselves with a real bargain in a few months time."
This week is traditionally fairly uneventful but also aberrant; trends that dominate the last week of the year may be the complete opposite of long-term trends in the months to come. This could indicate many things, including a sharp rise in the price of gold during 2012. Forecasts range from $1800 to $2000 an ounce or higher in the coming year. As such, today's prices certainly offer a buying opportunity for investors wishing to increase their precious metals holdings.
Investors interested in taking a position in precious metals can contact the team at Pan American Metals of Miami; the seasoned team of investors, traders and account executives is available to offer advice and to assist clients with their bullion purchases.
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.