Bill Hionas Says Gold Prices Slated To Exceed $2000 Early Next Year

October 17, 2011 | Author: | Posted in Uncategorized

(1888PressRelease) $2000 predicted, mainly based on central bank buying.

MIAMI, FL – Bloomberg Business Week has joined other analysts in predicting that gold will break through the psychological barrier of $2000 an ounce early next year. The predictions are based on the buying activity of many central banks, particularly those of emerging economies. Central banks were net purchasers of gold last year, for the first time in twenty years. Countries such as Thailand, Vietnam, Russia, Mexico, Bolivia, Tajikistan, China and India have all been increasing their gold bullion reserves, a trend that many analysts see continuing.

According to the World Gold Council, gold bullion buying by governments and central banks totaled 192.3 tonnes in the first half of this year. Traders and analysts are currently strongly bullish in their predictions for gold prices, based mainly on macroeconomic factors, which are encouraging safe-haven demand.

“Savvy investors are taking advantage of any corrections to increase their bullion holdings,” says Bill Hionas. “Conditions certainly indicate a continued rise in price in the coming months.”

Bill Hionas runs Pan American Metals of Miami, a precious metals brokerage located in Miami Beach, at the financial hub of North and South America.

Gold has made substantial gains this week, following a sharp drop in late September. Disappointing growth figures in the US and the ongoing sovereign debt crisis in Europe, are helping to support gold as a safe haven. Seasonal physical demand has also been high as India has its Diwali festival later this month.

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.

Press Contact:

Debbie Bailey
Executive Administrator
Pan American Metals of Miami, LLC
Email: dbailey ( @ ) investpanam dot com


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