Rally in gold and silver is consolidated with strong gains for both precious metals.
(1888PressRelease) January 23, 2012 - MIAMI, FL - Gold ended another week on a high note, $1664.40 at time of writing, showing definite signs of consolidating the gains the precious metal has made during the first three weeks of the year. Some of Friday's gains can be attributed to technical buying as technical traders jumped into the market. Silver also gained 53 cents, taking it to $31.04; all this was in spite of a stronger dollar.
Gold bullion has also seen strong physical demand from China ahead of the Lunar New Year. However, markets in China will be closed for the New Year holiday until the end of January and it remains to be seen how this will impact on gold prices next week. Gifts of gold and gold coins are traditional during the New Year celebrations in Asia, which commence January 23, welcoming the Year of the Dragon.
"The Lunar New Year brings increased seasonal demand for gold," says Bill Hionas of Pan American Metals of Miami. "However, gold's rally has been impressive and looks set to hold firm. Interestingly, gold is holding its own, despite a stronger dollar and ongoing problems in Europe that are limiting gains in the common currency. The precious metals market has seen a very strong start to 2012."
Pan American Metals of Miami offers investors the opportunity to take a position in gold or silver. Both fully funded and leveraged positions are available and PAMOM's seasoned investment team is available to assist buyers.
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
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Debbie Bailey
Executive Administrator
Pan American Metals of Miami, LLC
Email: dbailey ( @ ) investpanam dot com
Website: http://www.panamericanmetalsofmiami.com
Rally in gold and silver is consolidated with strong gains for both precious metals. 
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