Nervousness drives prices up but market remains volatile.
(1888PressRelease) September 07, 2011 - MIAMI, FL - Gold broke back above $1900 yesterday based on safe haven demand. There is speculation that a European bail-out may not actually happen after all. German Chancellor Angela Merkel's plan to bail out Greece is facing considerable opposition from within Germany, prompting renewed fears that the euro may not be salvageable and this, combined with disappointing economic growth data in the US, is enough to boost support for gold as investors look for ways to safeguard their wealth.
Gold bullion is still riding the crest of a wave that started building over ten years ago and macroeconomic factors seem to assure that the current 11-year long bull run will continue.
Nervousness, verging on panic, does seem to be driving the gold bullion market at the moment; the downside of this is that the market is far more volatile with huge leaps forward invariably being followed by pullbacks. September 5 may have been a holiday in North America but markets in the rest of the world have been busy and global equity markets fell noticeably. Morgan Stanley predicts that gold will continue to benefit from the global uncertainty.
"Investors are running out of 'safe' options," says Bill Hionas of Pan American Metals of Miami. "Gold continues to be the favorite choice and sales of gold bullion are skyrocketing."
Pan American Metals of Miami saw gold rise above $1900 overnight before dropping back to $1870. At that price gold is still pushing slightly ahead of platinum once again. Investors should expect the current roller-coaster ride to continue but all the signs suggest that the overall trend will remain bullish.
About us:
Pan American Metals of Miami, LLC is a group of traders, investors and brokers who combine 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.
Nervousness drives prices up but market remains volatile. 
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