MIAMI, FL, May 27, 2011 /24-7PressRelease/
-- Market reports May 24 showed that gold and silver had regained their standing as 'safe haven' investments, with gold
remaining comfortably above the $1500 an ounce benchmark, closing the day at $1523, the highest price for three weeks. Silver has also bounced back to close, May 24, at $36.12. Mounting concerns over European debt following rumors of a Greek default helped drive investors back toward the 'safety net' of precious metals. The UK, Italy, Spain and Portugal were causing concern as they faced reduced credit ratings and, in the case of Spain, a change of government. Gold and silver futures were also strengthened by a weakened US dollar index and higher prices for crude oil.
"Investors enter the precious metals bullion market when they are looking for a safe haven in times of crisis, or for a hedge against inflation," says Bill Hionas
, CEO of Pan American Metals of Miami (PAMM). "Historically, gold, in particular, has always offered an inflation-proof investment."
News from the markets Tuesday certainly supported the view of precious metals
bullion as a 'safe haven' investment, with every indication that prices have stabilized and are now beginning to rise again. Continuing low interest rates also help gold maintain its position as the investor's choice.
PAMM offers investors the opportunity to buy real physical holdings in bullion. On May 24, PAMM was showing all four precious metals trading up on the previous day's figures, offering gold at $1524 (up $7), silver at $36.58 (up $1.53), platinum at $1769 (up $10) and palladium at $738 (up $6). PAMM has a team of experienced brokers and traders ready to help investors; located in Miami Beach, they are at the hub of Central and South American trading.About us:
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