Pan American Metals of Miami says Gold Should Still Represent a Bargain Below $1700

Pan American Metals of Miami says Gold Should Still Represent a Bargain Below $1700 End Quote

The latest headlines from Europe are very much driving the market right now

(1888PressRelease) November 27, 2011 - MIAMI, FL, November 26, 2011, The question being asked by most investors now is whether or not gold still represents a bargain at today's prices. In other words, does gold still have room to fall further and is it likely to recoup earlier highs in the near future?

Arguably, at any price below $1700 an ounce, gold is worth buying. $1900 may have proved too high for gold earlier this year but it has now shown a healthy correction and should be set firmly back on an upward trend. December is traditionally a quieter month investment wise, with physical demand from Asia also slowing down. Nonetheless, many market analysts are still predicting that gold will reach $2000 or higher in 2012.

The macroeconomic factors that are supportive of gold remain unchanged; severe debt crises plague both the US and Europe and growth in the US has also been disappointing. No one knows for sure what is likely to happen next in the European fiasco; several possibilities are gaining credibility that would never have been considered a few weeks ago. The possibility that some countries might be allowed to exit the euro, is just one of many feasible outcomes. Quantitative easing has met strong resistance from the stronger economies of Northern Europe but even this is no longer beyond the realm of possibility. What is needed, as far as the financial markets are concerned, is some united definitive action on the part of the political leaders.

"The latest headlines from Europe are very much driving the market right now," says Bill Hionas of Pan American Metals of Miami. "At current prices, gold looks like a bargain; we could easily see gains of $300 or more during 2012."

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

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