Suggestions of further quantitative easing are supportive of gold.
(1888PressRelease) November 29, 2011 - MIAMI, FL - Today saw the strongest hints yet that the Federal Reserve might consider further easing sooner rather than later. Meanwhile, European leaders are meeting in Brussels to decide on the next course of action to solve the escalating crisis in the euro zone. Despite the fact that Italy has managed to achieve a temporary respite, bond yields remain extortionately high and Greece is due for another bailout of 8 billion euros in December.
Gold is currently being supported by some safe haven buying and some buying by bargain hunters and it seems as if volatility may continue in the short term as gold persists in traveling in tandem with the euro. Nevertheless, the overall trend looks very optimistic for gold and precious metals. Further quantitative easing, whether in Europe or the US, would help drive up the price of gold as investors would be desperately seeking the safe haven of a tangible asset with intrinsic value. Gold has stood the test of time and consistently outperformed other assets, apart from oil, through every major financial crisis in the last twenty years.
"At present, market analysts are looking for consistency over $1700 or $1725 to start a new technical buying pattern," says Bill Hionas of Pan American Metals of Miami. "If gold can hold its own above those levels then it should go higher. At the moment gold is trading higher against a weaker dollar as more hopeful news comes out of Europe."
Pan American Metals of Miami trades in precious metals bullion: gold, silver, platinum and palladium.
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
Suggestions of further quantitative easing are supportive of gold. 
Satisfied Users & 
Approved Press Releases
Print
Email
Report Spam