Pan American Metals Of Miami Says Outlook for Gold Next Week is Mainly Optimistic

Top Quote Predictions for gold in the coming week are mixed, but the majority are optimistic. End Quote
  • (1888PressRelease) June 21, 2011 - MIAMI, FL - The eventual outcome of the civil unrest in Greece may play a large part in the performance of gold, and other precious metals, in the coming week. Approximately two-thirds of market analysts reporting during the past week predicted that gold will rise next week, while others expected prices to be unchanged, and about 15% expected gold to go down, possibly due to a rise in the US dollar. Gold values tend to move in inverse proportion to the dollar. Silver also closed higher this week due to concerns about a possible default in Greece.

    The current situation in Europe is driving many investors to buy gold as a 'safe haven' from riskier investments, particularly those based on fiat currencies. However, most gold buyers are taking a longer-term view.

    "Those who are buying gold are looking beyond just next week's headlines," says George Gero, vice president and precious metals strategist with RBC Capital Markets Global Futures.

    Traditionally, precious metals can be expected to enter a quiet summer period around this time, picking up again in the fall. Nevertheless, the outlook for gold, even in the short term, remains relatively buoyant.

    "The debt crisis in Greece and the civil unrest there are combining to frighten investors away from currencies and stocks, to the perceived safety of precious metals," says Bill Hionas of Pan American Metals of Miami (PAMM). "There is a lot of support for gold in the medium to long term."

    PAMM was showing gold up $9, June 17, at $1539; silver was also up slightly at $35.88.

    About us:
    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.


    Press Contact
    Debbie Bailey
    Executive Administrator
    Pan American Metals of Miami, LLC
    Email: dbailey ( @ ) investpanam dot com

  • FB Icon Twitter Icon In-Icon
Contact Information