Gold reached all-time high last week but is still soaring upward.
(1888PressRelease) August 17, 2011 - MIAMI, FL - The price of gold reached an all-time high last week at $1817 an ounce and, despite a short-term correction, prices are soaring upwards again today, August 16, as gold trading hit four times the normal volume on safe haven demand. However, market analysts suggest that gold should go far higher; in fact $2500 an ounce would be realistic when prices are adjusted for inflation. This suggests that $2500 is a price the market could be seeing in the very near future.
Analysts also suggest that a price rise such as this, which would achieve a true all-time high when adjusted for inflation, would not be unrealistic, nor would it endanger gold's standing as a safe haven. Fears of a bubble are not a concern while gold remains below inflation-adjusted highs. Gold still has rarity value and cannot be devalued except in the unlikely event of a sudden increase in supply. Owning gold is important to investors at the current time as the global economy is in turmoil and they are desperate for a safe haven; there are many macroeconomic factors underpinning gold and the trend continues to be bullish.
Gold is currently eclipsing almost any other investment having gained 24% since the beginning of the year and there are no indications that it will drop significantly in the mid- to long-term. Trading today, August 16, saw gold heading confidently back towards $1800.
Pan American Metals of Miami, with a team of experienced brokers led by Bill Hionas, offers opportunities for buyers to invest in gold bullion. Clients can purchase either fully-funded or leveraged positions.
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 reached all-time high last week but is still soaring upward. 
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