Gold Breaks Through $1600 in New Year Rally says Pan American Metals of Miami

Top Quote Gold prices continued their New Year rally Tuesday, breaking back through the $1600 mark. End Quote
  • (1888PressRelease) January 03, 2012 - MIAMI, FL - Gold's rebound is attributed partly to a falling dollar and partly to its performance during 2011. Despite a lackluster showing during the final quarter of the year and considerable volatility, gold still ended the year with a gain of 10%, outperforming most other investments and proving that, as a long-term investment, gold bullion is pretty difficult to beat. Silver followed gold's lead Tuesday, gaining almost a dollar on Monday's price.

    Additionally, gold's lower price in late December provided a buying opportunity for bargain hunters. It is worth remembering here that investors are rushing to buy dips because they do represent a bargain. That is to say, the price of the precious metal is artificially low and a sharp rise in price is anticipated - hence it is a worth buying!

    "Gold has an intrinsic value that cannot be debased in the same way as paper currencies," says Bill Hionas of Pan American Metals of Miami. "Gold holds its value impressively in times of economic turmoil when it has historically outperformed virtually every other asset."

    If gold manages to stay above $1600, we are looking at a strong rally; there is definitely some New Year's optimism apparent in the markets with a greater appetite for risk amidst what is still relatively thin trading. The euro is also stronger against the dollar and, as we all know, gold has tended to travel in tandem with the euro of late.

    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.


    Press Contact

    Debbie Bailey
    Executive Administrator
    Pan American Metals of Miami, LLC
    Email: dbailey ( @ ) investpanam dot com

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