Gold's sharp dip this morning provided a buying opportunity for investors.
(1888PressRelease) November 10, 2011 - MIAMI, FL - Gold's downward slide is attributable to the fact that panic over the Italian situation has died down since Italy has managed to score a loan of 5 billion euros, reducing the need for a safe haven.
Leaving aside the fact that news from Europe is changing almost hourly, and that anyone who thinks this loan makes everything just fine is seriously optimistic, if not delusional, a drop in price of almost $50 from earlier highs is sufficient to attract bargain hunters. If we do, in fact, factor in the likelihood that the European crisis is actually far from over, then gold is likely to rally again in the very near future. Between buying from bargain hunters and renewed safe-haven demand, it is unlikely that this dip in price will last very long.
"The overall trend for gold remains undeniably bullish," says Bill Hionas of Pan American Metals of Miami. "However, we can expect some volatility in the market in the short term. Investors should use any serous dip in the price of gold bullion to grab as much as they can with both hands."
Italy's loan is at a punishingly high interest rate, 6.087%, but the markets were nevertheless reassured by the fact that she managed to get a loan at all, avoiding the need for the ECB to print more money - yet. The promised resignation of Silvio Berlusconi has also been seen as a positive step while, over in Greece, Lucas Papademos has been named as George Papandreou's successor. So all is calm, for now. Tomorrow's headlines could be very different.
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's sharp dip this morning provided a buying opportunity for investors. 
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