Gold prices soar again amidst fears regarding economy.
(1888PressRelease) August 17, 2011 - MIAMI, FL - Inflation fears are pushing the price of gold up to new record highs again today, August 16, in light of concerns over European sovereign debt issues and a lack of faith in the fiscal situation in the US. Investors are being driven by fear, fear that the value of the dollar is going to slide and that the economy could be heading for a double dip recession. At the same time, there are worries about future inflation. Basically, investors are being made very nervous and are rushing to buy gold as a result.
Trading in gold bullion was around four times the normal volume last week, with individual clients sometimes spending six figures on bullion. 1 oz bars were reportedly the most popular items, suggesting that these are not large, institutional buyers but relatively small investors looking to safeguard their cash.
Talks are continuing in Europe as a France and Germany try to come to an agreement on a way to solve the euro crisis. Apparently they keep coming up with different plans; a situation that only serves to remind us of the recent US debacle over the raising of the debt ceiling. None of this encourages investors to have faith in the euro; gold, however, seems more attractive than ever as a safe haven.
"Following a dip on Monday as the markets settled down, we are seeing renewed interest in buying gold and consequently prices are heading back towards $1800," says Bill Hionas, CEO of Pan American Metals of Miami. "The price of gold has soared upward again today."
Investors interested in purchasing gold bullion can contact the team at Pan American Metals of Miami for further information.
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. PAMM provides an individual investment service and is based in Miami, Florida for convenient access to both North and South American investors.
Gold prices soar again amidst fears regarding economy. 
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