(1888PressRelease) October 10, 2011 - MIAMI, FL - The outlook for gold remains very positive for this week with the vast majority of analysts predicting a rise in price due to the ongoing debt crisis in Europe. The continuing sovereign debt crisis should be bullish for gold based on safe-haven demand as long as Europe doesn't slide into recession, which would mean that inflation was no longer a concern. Those analysts who predict stronger prices for gold this week suggest targets of $1700 or above.
"The European situation is at the forefront of everyone's minds at present," says Bill Hionas of Pan American Metals of Miami. "While the economy is struggling, precious metals will benefit."
Angela Merkel and Nicolas Sarkozy have given themselves a three-week deadline to sort out the crisis and get Greece back on track. Europe will need 'considerably in excess' of $100 billion euros to satisfy the needs of the struggling economies.
Meanwhile, in the US, it seems that more and more people are hoarding gold bars and coins as an insurance policy and many of them are keeping their gold bullion in their homes, sometimes hidden or even buried. The philosophy is that gold should be within easy reach in case of any emergency. In the past year, Americans have bought more than 100 tonnes of physical gold.
Pan American Metals of Miami deals in gold, silver, platinum and palladium. A team of seasoned investors, traders and account executives is available to assist clients with their precious metals bullion purchases.
About us:
Pan American Metals of Miami, LLC is a group of traders, investors and account executives 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 prices buoyed by European crisis. 
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