(1888PressRelease) Gold should hit $2000 in 2012.
MIAMI, FL - In the midst of all the media hype about the European summit and the wailing and gnashing of teeth over Mario Draghi's remarks, it is worth stepping back and taking a cool-headed look at just where the gold market has been, and where it's headed. We are still enjoying what has been an 11-year long bull run in gold, yet still the market panics and gold is sold off whenever there is a hiccup. The recent market has indeed been volatile but, when we look at patterns over time, the outlook for 2012 is very strong.
Firstly, gold traditionally trades lower during the final quarter of the year then rallies strongly in the first quarter of the next year - so far, so good. Secondly, while gold has been acting uncharacteristically of late, it nevertheless provides the ultimate safe haven in times of crisis. No matter what happens as a result of the summit meeting, the European debt crisis and the US budget deficit are not going to magically disappear. If central banks try to solve the problem with quantitative easing, currencies will become further debased. Gold will be the only safe option, so the macroeconomic fundamentals remain strong.
Lastly, we continue to see physical demand, especially from emerging economies; India alone has over 950 billion dollars' worth of gold held in private households.
"Gold bullion has stood the test of time and has proven its worth over and over again," says Bill Hionas, CEO of Pan American Metals of Miami. "Compared with other equities, gold offers outstanding returns. Most market experts predict prices of $2000 for 2012, a gain of almost 18% on today's prices."
Investors wanting to add gold bullion to their portfolio can contact Pan American Metals of Miami for further information.
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.
Pan American Metals of Miami, LLC
Email: dbailey ( @ ) investpanam dot com