Correction in gold price is seen as normal part of overall upward trend.
(1888PressRelease) July 21, 2011 - MIAMI, FL - The outlook for continued upward movement in gold remains positive, despite an anticipated correction following record highs earlier in the week. Suggestions that an agreement may be reached on the US debt crisis, together with some profit-taking in the wake of record-breaking prices Monday, combined to cause a sharp correction today, July 20. However this correction was anticipated and the general outlook is still extremely favorable.
Analysts are predicting between $1700 and $1800 for gold before the end of 2011. Even if the debt crisis in the US is resolved, this is only one of the factors currently underpinning gold and other precious metals. Euro zone finance ministers are to meet July 21 to discuss the financial stability of the euro in light of the sovereign debt crises in Ireland, Italy and Greece and it is not anticipated that there will be any quick solution. The current correction is seen as a normal adjustment within the overall upward trend. Demand for gold from India and China is also rising, regardless of the higher price.
"Current economic conditions are extremely favorable for precious metals," says Bill Hionas of Pan American Metals of Miami. "Gold is predicted to go considerably higher in the next few months and silver prices are also predicted to climb back to around $50 an ounce."
Pan American Metals of Miami trades in gold, silver, palladium and platinum. Clients may purchase either fully-funded or leveraged positions and may choose, once full payment is received, to take physical delivery of their precious metals bullion.
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.
Correction in gold price is seen as normal part of overall upward trend. 
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