Gold is still supported by a distrust of paper currencies.
(1888PressRelease) November 18, 2011 - MIAMI, FL - Despite being proven fairly wrong this week, a small majority of market analysts surveyed this week is still predicting the price of gold to rise again next week. Thursday saw gold take a loss against a stronger dollar, in light of ongoing concerns about the EU debt crisis. Friday, however, saw gold rebound as the dollar weakened again. Deutsche Bank is still anticipating prices of $2000 or more for 2012, while admitting to some concerns over the influence of the US dollar on gold prices. Gold prices stabilized today as the dollar came under pressure.
"A strong dollar makes gold expensive for investors to buy in other currencies," says Bill Hionas of Pan American Metals of Miami. "Gold generally moves inversely to the dollar."
Nevertheless, gold is still behaving uncharacteristically. The crisis in Europe should be driving the price of gold to $1900 or beyond on the basis of safe-haven buying, yet it is having the opposite effect. Many market experts feel that gold will always be bought when people distrust paper currency and the Europeans are giving us plenty of reason to distrust the euro. The intrinsic value of gold bullion, and other precious metals bullion should make it the first choice for wealth protection.
Pan American Metals of Miami deals in precious metals bullion: gold, silver, platinum and palladium. The investment team at PAMOM is available to assist buyers with their bullion purchases, offering advice that is tailored to the specific needs of each individual client.
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.
Gold is still supported by a distrust of paper currencies. 
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