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MIAMI, FL, June 10, 2011 /24-7PressRelease/ -- Gold is holding firm as the US dollar slides downward. China has expressed concern over holding excessive amounts of dollars and this, coupled with a disappointing jobs report released June 3, has served to turn more investors away from currency and toward bullion. Federal Reserve Chairman Ben S. Bernanke spoke in Atlanta June 7, saying that the central bank should maintain monetary stimulus to boost the economy since recovery has been 'disappointingly slow'.
"The outlook for precious metals is very positive for the remainder of 2011," says Debbie Bailey, executive administrator at PAMM. "There is also speculation about the possibility of quantitative easing in the US, which would further support investment in precious metals bullion as an inflation hedge."
Gold sales are above average for the time of year and there is anticipation of a rise in price to above $1550 an ounce. This is excellent news for holders of precious metals bullion.
"All market conditions are pointing to record prices for gold, with the other precious metals rising also," says Bill Hionas, CEO of Pan American Metals of Miami (PAMM).
Silver was at $37.05 an ounce Tuesday June 7, inching upwards along with gold. Platinum was at $1,819.49 an ounce, up nearly $14 and palladium was at $802.47 up over $18. The rise in palladium takes it close to its 3-month high and likely reflects the supply /demand ratio. Platinum is also set to rise as production costs and market demand both increase.
PAMM's staff of seasoned brokers and traders can help clients wishing to add to their precious metals holdings or to add precious metals bullion to their existing portfolios.
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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