Slide in prices is a knee-jerk reaction to the FOMC meeting.
(1888PressRelease) September 23, 2011 - MIAMI, FL - The gold price slid dramatically today, September 22, as a result of a strong US dollar and margin call selling. For those investors still looking to buy, today's new low price offers a perfect buying opportunity. With even the, relatively conservative, predictions from the recent LBMA conference forecasting gold at over $2000 within the next year, the current price is a bargain not to be missed!
Part of the reason for the sudden dip in gold prices is a need for cash, resulting from a 467 point loss on the Dow Jones Average. Investors may be selling gold to make up for a shortfall in other investments or because of panic over a global double dip recession following the Federal Reserve's downgrading of the US economy. Nevertheless, it should be noted that gold is still faring better than industrial commodities, hovering around the 50-day average. This would seem to confirm its position as a safe haven.
We have seen this kind of panic selling before; it tends to be something of a knee-jerk reaction to what is perceived as bad news following the FOMC meeting. In all likelihood, the situation will change again, sooner rather than later; yet another reason for investors to take advantage of the temporary slide in price to buy.
Bill Hionas leads a team of seasoned investors and brokers. Over a century of combined experience, at Pan American Metals of Miami, a precious metals brokerage located in Miami, Florida. Pan American Metals of Miami trades in gold, silver, platinum and palladium bullion.
About Bill Hionas:
Bill Hionas is CEO of Pan American Metals of Miami, LLC, 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.
Slide in prices is a knee-jerk reaction to the FOMC meeting. 
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