(1888PressRelease) Market analysts forecast further significant rises for gold and silver in light of prevailing economic conditions.
MIAMI, FL - Gold and silver[/url] are both predicted to soar in the near future; good news for those investors who already hold positions in the two precious metals.
Some analysts are forecasting $1700 or even $1750 for gold by the end of 2011, a significant gain from its present price at around $1615. There are three ongoing situations that are all supportive of gold: a lack of faith in the dollar, exacerbated by the continuing uncertainty over the debt ceiling crisis; instability in Europe with ongoing debt crises in at least four countries; and rising demand from China and India. Regardless of the outcome of the US debt talks, there is therefore still considerable support for a further rise in gold.
Silver shares in gold's good fortune to a certain degree; as gold becomes more and more expensive, some investors will turn to silver as a cheaper alternative. Like gold, silver is attractive as a safe haven investment during times of economic uncertainty. However, silver also benefits from high industrial demand, giving it additional support. In percentage terms, silver's gains over the past year have more than doubled those made by gold. Again, Asian countries are fueling demand; demand for silver from China, for example, rose by 67% between 2008 and 2010.
"The outlook for precious metals is extremely positive," says Bill Hionas of Pan American Metals of Miami. "Investors holding positions in precious metals bullion are very happy with the state of their portfolios."
However, new entrants into the precious metals market could still see substantial gains, according to the predictions of many market analysts.
Pan American Metals of Miami trades in gold, silver, platinum and palladium and offers investors the opportunity to buy both fully-funded and leveraged positions.
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.
Pan American Metals of Miami, LLC
Email: dbailey ( @ ) investpanam dot com