Pan American Metals of Miami says Euro Troubles are Far From Over

Top Quote Situation with Greece remains unresolved following talks. End Quote
  • (1888PressRelease) January 24, 2012 - MIAMI, FL - While market analysts remain cautiously optimistic on Europe, it is important to bear in mind that the situation is still far from resolved. Talks between Greece and her creditors ended without resolution and attempts to avoid a recession in Europe could well result in further debasement of the common currency.

    In recent months we have seen gold moving in tandem with the euro and inversely with the US dollar, which has proven its worth as the world's reserve currency. Gold bullion, however, has long provided the ultimate safe haven during periods of economic crisis and investment demand for gold remains strong as the Iranian crisis escalates and the future of the euro zone still remains uncertain. Despite optimistic mutterings and promises of "tentative stabilization" from ECB President Mario Draghi, the debt crisis is now in its third year and each optimistic headline has a tendency to be followed by a dash of reality that dashes the hopes of euro fans.

    Austerity measures, introduced to combat debt, also serve to stunt growth and there are fears that the ECB will need to cut rates further. The euro has produced the worst performance among major currencies over the last three months, losing close to 4% of its value and reaching an 11-year low against the yen in mid-January.

    "As the euro continues to struggle, we have seen gold continue its rise, suggesting a break from the partnership it seemed to have with the troubled currency," says Bill Hionas of Pan American Metals of Miami. "Gold bullion has proven its worth times many over and is the clear choice for a safe haven for wealth protection. In the event that the euro should collapse, we would expect to see a strong surge in gold and silver."

    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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