Many factors combine to drive investors to perceived safe haven of gold and other precious metals.
(1888PressRelease) August 23, 2011 - MIAMI, FL - Gold's meteoric rise is set to continue for some time yet, given the macroeconomic situation. Gold prices have skyrocketed recently due to safe haven investment demand with gold being almost $1900 an ounce today, August 22. Platinum has also risen to over $1900 and silver to over $44. Even palladium, which has been fairly stagnant, is trading up today.
There are many factors boosting gold, and other precious metals. In Europe, German Chancellor Angela Merkel is resisting market pressure for common euro-area bonds as a debt crisis solution; meanwhile rebels in Libya appear to have overthrown Gadhaffi's government causing further concern over instability. In the US, targets for future growth have been downgraded and there is speculation that Ben Bernanke may introduce a third round of quantitative easing in an attempt to boost the economic recovery. All these factors drive safe haven investment buying of gold bullion. Additionally, we are entering wedding season in India, suggesting a significant increase in demand from a country that has emerged as a major net buyer of gold.
As CEO of Pan American Metals of Miami, Bill Hionas leads a seasoned team of investors, brokers and traders. PAMM's team offers advice on precious metals investment to both individual and institutional investors. PAMM's team members have over a hundred years of collective experience and only recommend positions that they, themselves, would be comfortable holding. Pan American Metals of Miami trades in gold, silver, platinum and palladium. Currently all four precious metals are trending up, largely based on safe haven investment demand.
About Bill Hionas:
Bill Hionas is CEO of Pan American Metals of Miami, LLC, a group of traders, investors and brokers who combine 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.