As we approach the Thanksgiving long weekend, gold prices are edging back toward $1700.
(1888PressRelease) November 23, 2011 - MIAMI, FL - At the time of writing, gold prices are still being capped by a strong dollar. However, increasing investment demand and buying by central banks are both supportive of gold in the long term, so that many analysts still predict noticeably higher prices by the end of the year.
There are suggestions that the ECB may consider quantitative easing, which would also be strongly supportive of gold. Add to this, the super committee's failure to agree on a solution to the US budget deficit problem, and we have renewed doubt about the reliability of paper currencies, making the intrinsic value of gold, and other precious metals, more attractive to investors.
"For wealth protection, gold bullion offers an insurance policy in times of economic uncertainty," says Bill Hionas. "Investors who have at least 10% of their portfolios diversified into precious metals bullion will experience a higher ROI compared with those portfolios that do not include precious metals."
Many market experts are looking for gold to reach $2000 or higher early in 2012; in fact, prices below $1700 should be seen as a buying opportunity.
"Forget the Black Friday sales at the mall, the current offer price for gold could present a far better bargain," says Bill Hionas.
If the ECB introduces quantitative easing or becomes a 'lender of last resort' to beleaguered European governments, then there will be a massive injection of money into the system that will only serve to benefit gold.
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.
As we approach the Thanksgiving long weekend, gold prices are edging back toward $1700. 
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