Pan American Metals of Miami Reports Gold Edging Back up towards $1800

Gold edged back up towards $1800 today as no news seemed to be good news on the European front.

All eyes are still focused on Italy as investors wait for the government to approve austerity measures and for the anticipated resignation of Prime Minister Silvio Berlusconi. The outlook remains optimistic as is reflected in a slight drop in Italy's borrowing costs. The apparent easing of the European situation is causing a drop in the dollar and a corresponding rise in the price of gold.

Some bargain buying took place when the gold price slipped below $1750 briefly and this, combined with a weaker dollar index, has served to help gold rebound.

"Gold is being supported by a weaker dollar and relatively optimistic news from Europe," says Bill Hionas of Pan American Metals of Miami. "At the moment, $1800 seems to be representing a barrier, with gold stuck in a range between $1750 and $1800. However, we could see gold break through that barrier any day now, especially if the euro rallies and the dollar continues to fall."

Going into the weekend the forecasts for next week are once again very positive for gold with over 80% of market experts surveyed anticipating higher prices for the coming week and less than 10% suggesting that prices will be lower.

Investors interested in taking a position in gold bullion should contact the investment team at Pan American Metals of Miami. PAMOM is located in Miami Beach, at the financial hub of North and South America.


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.

Website: http://www.panamericanmetalsofmiami.com

Press Contact

Debbie Bailey
Executive Administrator
Pan American Metals of Miami, LLC
Email: dbailey ( @ ) investpanam dot com
Website: http://www.panamericanmetalsofmiami.com

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Contact Details

Company Name: Pan American Metals Of Miami
Issued By: Debbie Bailey
Phone: 305-733-7419
Address: .
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Zip: 33139
Country: United States
Website: Visit the website

Keywords : Pan American Metals, Miami Reports, Gold Edging Back, up towards $1800,

by Debbie Bailey (few years ago!)

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