Majority Of Traders Predict Higher Prices For Gold In The Coming Week Says Bill Hionas

(1888PressRelease) More than two-thirds of gold traders surveyed predicted rising prices for gold bullion in the coming week.

MIAMI, FL - It appears that Europe's ever-worsening crisis is finally driving investors to protect their wealth with one of the most reliable and best-performing assets. Stock markets have taken a beating for months now and even US Treasuries look less attractive. Gold, however, is still showing significant gains over the year as a whole.

The stronger dollar is capping gold's gains at present but this is a state of affairs that could change in a heartbeat, given the concerning economic news emanating from Washington. We should also remember that investment demand for gold increased by over one-third during the third quarter of 2011, compared to the same period a year ago.

"Gold has enjoyed a very good year, following an impressive decade," says Bill Hionas. "Apart from oil, gold bullion is the best-performing asset and is still attracting investment demand. Physical demand has also been strong this year with central banks, especially from emerging economies, stockpiling gold at ever-increasing rates. Central banks bought 142 tonnes of gold last year according to IMF records."

Even at today's relatively low price, gold has gained almost 20% over the year, doubling the return offered by US Treasuries. In India, gold has rebounded due to increased buying as the wedding season continues and physical demand for gold jewelry and gifts remains strong.

About Bill Hionas:

Bill Hionas is CEO of Pan American Metals of Miami, LLC, 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.billhionas.com; http://www.panamericanmetalsofmiami.com

Press Contact

Debbie Bailey

Executive Administrator

Pan American Metals of Miami, LLC

Email: dbailey ( @ ) investpanam dot com

Website: http://www.billhionas.com; http://www.panamericanmetalsofmiami.com

Source:

http://www.1888pressrelease.com/majority-of-traders-predict-higher-prices-for-gold-in-the-co-pr-353611.html

by: Donald Hood

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