While gold ended the week down but far from out, its performance for next week still looks reasonably positive.
(1888PressRelease) November 21, 2011 - MIAMI, FL - With markets closed Thursday for US Thanksgiving, and, in all likelihood, a quiet day Friday, this will be a short trading week in the US. Market analysts, despite being wrong this week, are still optimistic about gold's chances in the coming week.
One theory is that, with gold having dipped to around $1725, bargain hunters will be attracted and that, alone, will drive up the price. Additionally the shorter trading week in the US will mean less volume being traded. Lastly, buying of gold by central banks has seen a massive increase recently, particularly in Asia and Latin America. The only real thing working against gold this week has been the relative strength of the dollar.
That said, the European situation continues to be the unknown factor. No one really knows what to expect next from the region, or how any breaking news will affect the market. Investors have shown themselves to be very skittish recently, jumping first one way then the other as headlines change.
"The market has been volatile and gold has been seemingly trapped in the $1700 to $1800 range," says Bill Hionas. "To gain investors' confidence, gold likely needs to sustain a break through the $1800 barrier."
Bill Hionas runs Pan American Metals of Miami, a precious metals brokerage dealing in gold, silver, platinum and palladium bullion. He heads up a team of seasoned investors, traders and account executives that is available to assist clients with their precious metals bullion purchases.
About Bill Hionas:
Bill Hionas is CEO of Pan American Metals of Miami, LLC, 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.
While gold ended the week down but far from out, its performance for next week still looks reasonably positive. 
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