Gold slipped slightly yesterday as investors became nervous about the upcoming summit meeting in Europe.
(1888PressRelease) December 07, 2011 - MIAMI, FL - Suggestions that there may actually be a feasible plan this time have had a calming effect on the market, making gold less necessary as a safe haven. However, we have surely lost count of the number of meetings held between German Chancellor Merkel, French President Sarkozy and their fellow leaders, with the aim of coming up with a suitable plan to fix the region's problems. We have yet to see a definitive plan. Chancellor Merkel wants stricter measures to enforce austerity measures and make it impossible for countries to get themselves into such debt in the future. At the same time, she remains adamant that she does not give consideration to the idea of euro bonds.
"It is a little strange that the financial markets are all waiting with bated breath for the outcome of Friday's meeting," says Bill Hionas of Pan American Metals of Miami. "There is no particular reason to assume that this meeting is suddenly going to provide a 'cure-all' for Europe's debt woes, although there are optimistic rumors abounding."
Whatever happens on Friday, it seems no one is ready to make a move - investment wise - until something more decisive happens, either in the US or in Europe. Meanwhile Standard & Poor's is threatening to downgrade all the nations in the euro zone if the outcome of Friday's meeting is not satisfactory - no pressure or anything!
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.
Debbie Bailey
Executive Administrator
Pan American Metals of Miami, LLC
Email: dbailey ( @ ) investpanam dot com
Website: http://www.panamericanmetalsofmiami.com
Gold slipped slightly yesterday as investors became nervous about the upcoming summit meeting in Europe. 
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