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MIAMI, FL, June 12, 2011 /24-7PressRelease/ -- Market reports June 9 show gold and silver continuing to rise as interest rates remain low, making currency based investments less attractive. European Central Bank President Trichet is holding interest rates firm for now, while not ruling out an increase in a month's time. Meanwhile, Federal Reserve Chairman Benanke, speaking in Atlanta June 3, also committed himself to low interest rates for an extended period. Interest rates that remain low offer strong support for gold and other precious metals particularly when set against fears of inflation.
"There is strong investment demand now for silver and gold as a hedge against inflation," says Bill Hionas, CEO of Pan American Metals of Miami (PAMM). "We are seeing slow but steady gains and savvy investors are moving away from flat currencies."
PAMM was showing all four precious metals up Thursday June 9; gold was up $4 at $1543, silver up 60 cents at $37.46, palladium up $8 at $814 and platinum up $16 at $1843. Palladium reached a 3-month high this week.
"We are seeing strengthening in platinum and palladium as the automotive industry in Japan recovers from the devastating effects of the earthquake and tsunami in March," says Debbie Bailey, executive administrator at PAMM. "Demand from the auto industry keeps prices high for the platinum group metals."
PAMM offers investors the opportunity to buy precious metals bullion, either for home delivery or for placement in a nearby repository for safe-keeping. PAMM's team of seasoned investors have decades of shared experience, enabling them to lead clients toward prudent investments that are appropriate to their unique needs. PAMM caters to individuals and institutions alike.
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. PAMOM 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
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