Confidence in dollar is not supported by economic data.
(1888PressRelease) December 29, 2011 - MIAMI, FL - Gold is trading around $1550 at the time of writing, partly due to a strong dollar based, apparently on 'increased consumer confidence'. However, data from the US really does not support the idea of increased consumer confidence. House sales are down, Sears has announced the closure of up to 120 stores throughout the US and Canada and unemployment, though down slightly, remains high.
Additionally, concerns in Europe continue, despite a collective sigh of relief following a better-than-expected Italian bond auction. This more optimistic news aside, many financial experts are still prophesying the ultimate demise of the euro. Regardless, the appeal of fiat currencies is not likely to last and investors will then turn back to gold bullion as the safe haven of choice.
"None of the economic data is truly encouraging," says Bill Hionas of Pan American Metals of Miami. "Those who have chosen the dollar as a safe haven will be changing their minds in the not-too-distant future. Gold and silver, on the other hand, have been proven to hold their value in times of economic turmoil."
While market experts differ in their predictions, a substantial number foresee gold prices rising to at least $1800 next year, if not $2000, and some suggest silver prices reaching between $40 and $60 an ounce.
"The fundamentals supporting gold remain unchanged," says Bill Hionas. "We also expect to see increased physical demand from Asia in January as the Lunar New Year approaches, a prime time for gifts of gold and gold coins."
About us:
Pan American Metals of Miami, LLC is 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.
Website: http://www.panamericanmetalsofmiami.com
Press Contact
Debbie Bailey
Executive Administrator
Pan American Metals of Miami, LLC
Email: dbailey ( @ ) investpanam dot com
Website: http://www.panamericanmetalsofmiami.com
Confidence in dollar is not supported by economic data. 
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