Pan American Metals of Miami Reports Gold Sliding Slightly on Rising Dollar

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Title: Pan American Metals of Miami Reports Gold Sliding Slightly on Rising Dollar


1
Pan American Metals of Miami Reports Gold Sliding
Slightly on Rising Dollar
(1888PressRelease) Gold slides slightly on profit
taking and rising dollar. MIAMI, FL, Gold
slipped slightly today, October 13, following
some profit taking and a rising dollar. We should
expect a certain amount of volatility as changing
news, or even people's perceptions of changing
news, affects the market. Gold tends to move
inversely to the dollar a low dollar makes gold
more affordable in other currencies and vice
versa. The dollar can swing on the slightest hint
of any issue with a solution to the continuing
crisis in Europe looking hopeful one minute and
less hopeful the next, we should expect the
dollar to be traveling up and down the currency
scale like a yo-yo. "The point to remember, as
far as gold is concerned, is that these small
corrections are healthy and normal," says Bill
Hionas of Pan American Metals of Miami. "They do
not indicate a bubble that has burst, nor do they
affect the strong overall trend upward that gold
is taking. Gold now has a firm base of 1650 and
is strongly underpinned by seasonal, physical
demand and by investment demand." The situation
in Europe is something of a double-edged sword as
far as gold is concerned. Ongoing concerns
increase the need for gold as a safe haven while,
at the same time, fears regarding an uncertain
economic future can provoke investors to
liquidate, causing them to sell their
best-performing asset, gold. The reverse is also
true if the European issues were to be settled
satisfactorily, there would be no need for
liquidation, but less need for a safe haven also.
One might wonder then if the euro zone crisis
should affect gold hugely at all! What it most
definitely will do, however, is affect the US
dollar as it moves against the euro this can and
will affect the price of gold.
2
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 Pan American Metals of
Miami, LLC Email dbailey ( _at_ ) investpanam dot
com Website http//www.panamericanmetalsofmiami.c
om Source http//www.1888pressrelease.com/pan-am
erican-metals-of-miami-reports-gold-sliding-slight
ly-o-pr-342386.html