Gold predicted to hit $1600 an ounce or higher this year.
(1888PressRelease) June 15, 2011 - MIAMI, FL - Long-term forecasts for gold and silver remain optimistic. According to Richard O'Brien, CEO of Newmont Mining, the world's second-largest gold producer, prices should reach $1600 for gold and close to $50 for silver this year. O'Brien credited demand from Asia's middle classes for helping drive up the price; India and China are both huge consumers of gold. On the other hand, two factors, according to O'Brien could have a negative effect on precious metals; one would be a slowdown of the economy in China and the other would be increased interest rates in the US. However, news that China is taking a 'soft' approach to inflation control helped drive up prices again June 14.
In light of concerns over inflation and a continued fall in currency values, gold and silver are more popular than ever as an investment for wealth generation and protection.
"The medium to long-term outlook for precious metals is very healthy," says Bill Hionas of Pan American Metals of Miami (PAMM). "Short-term fluctuations in the market are not a concern for the serious investor who can see the big picture."
PAMM trades in four precious metals; gold, silver, platinum and palladium, and has a team of experienced brokers and traders available to assist clients. Precious metals have an intrinsic value that gives them a higher level of security than many other financial instruments. Each of PAMM's clients receives advice tailored to their individual needs and PAMM's brokers only suggest positions they would be comfortable holding themselves.
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.
Gold predicted to hit $1600 an ounce or higher this year. 
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