All eyes focused on Europe as investors remain nervous.
(1888PressRelease) November 17, 2011 - MIAMI, FL - As two new prime ministers form governments in Europe, concern grows over the future of the euro as a common currency for the region. Greek Prime Minister Lucas Papademos has vowed to do what ever is necessary to keep Greece in the euro. Nevertheless, rumors have been circulating that some of the weaker countries could be offered a way to exit the euro while remaining in the EU.
As the euro wavers, the dollar gains and gold, moving inversely to the dollar, falls. However, the gold market reacts very quickly to any change in the situation and a small gain on the part of the euro can cause the price of gold to rebound quite sharply. A strong dollar, on the other hand, attracts investors to the currency while also making gold more expensive to buy in other currencies.
"We have a very nervous market at present, with all eyes focused on Europe," says Bill Hionas. "Any hint that things are more optimistic, as the new governments in Greece and Italy take on the challenge of reducing their respective countries' debt burden, will cause gold to rally further. Yet the normal trend would be for gold to soar on safe-haven demand as concerns over Europe rise. Most market analysts feel that gold's behavior is out of character and that we should see a change in the not too distant future."
Bill Hionas runs Pan American Metals of Miami, a precious metals brokerage located in Miami, Florida. Pan American Metals of Miami trades in precious metals bullion: gold, silver, platinum and palladium.
For more information please visit www.billhionas.com
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.
All eyes focused on Europe as investors remain nervous. 
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