(1888PressRelease) November 27, 2011 - MIAMI, FL - There is little doubt that this last week was not a good one for precious metals. Nevertheless, the long-term outlook remains favorable for many market experts. Gold lost $42 over the week, hardly inspiring faith from investors. However, a closer look at some of the reasons behind the numbers does tend to show a different picture.
Gold travels inversely to the US dollar - and the dollar is currently rising against a beleaguered euro, rather than on the strength of the US economy. It is therefore debatable just how long the dollar will continue to shine. If problems in the euro zone are dealt with swiftly and decisively by the political leaders, something that is unfortunately not happening at the moment, then the euro will regain favor, the dollar will fall and markets will rise, taking gold along for the ride. Conversely, if the European situation worsens significantly, and the US economic situation continues to be giving cause for serious concern, then gold will become the desired safe haven again. Either way, gold prices should pick up in the near future.
Another factor to consider is the reason for gold being sold off at the present time. For many traders the last few weeks of the year are a quiet time.
"I believe we will see a different picture at the beginning of 2012," says Bill Hionas of Pan American Metals of Miami. "The fundamentals underpinning gold remain unchanged."
With US unemployment remaining high and the super committee failing to find a solution to the budget deficit, it is surely only a matter of time before gold usurps the dollar as the chosen safe haven.
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
Gold should see significant gains in 2012. 
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