Gold reaches a high of $1732 and silver soars to $33.69 in the wake of the FOMC's announcement.
(1888PressRelease) January 27, 2012 - MIAMI, FL - Gold and silver prices soared upward, Thursday, in the wake of the Federal Open Market Committee's announcement that interest rates would remain low for almost three years. Gold touched $1732 while silver rose to $33.69 an ounce, both showing marked gains on the previous day.
Gold and silver have both been used as money for centuries and are still viewed by many as feasible alternatives to currency. In fact, Iran has apparently accepted gold from India in payment for its oil. Precious metals, gold and silver in particular, offer investors unparalleled protection against inflation, which is the likely result of prolonged low interest rates. The announcement from the Federal Reserve will put strong downward pressure on the US dollar, which has been moving inversely to gold.
"Clearly, the Federal Reserve wishes to stimulate growth but the downside is likely to be inflation," says Bill Hionas of Pan American Metals of Miami. "Gold and silver provide protection against inflation and this move will likely send investors rushing into the precious metals market. Precious metals bullion is a unique financial instrument; it has an intrinsic value that cannot be debased."
At Thursday's price, gold was showing an increase of $200 an ounce over its December low, allowing for traders and fund managers to show considerable profits. Pan American Metals of Miami is a South Florida precious metals company that trades in gold, silver, platinum and palladium. Both leveraged and fully funded positions are available and clients may take physical possession of their bullion if they so choose.
About us:
Pan American Metals of Miami, LLC 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.
Website: http://www.panamericanmetalsofmiami.com
Press Contact
Debbie Bailey
Executive Administrator
Pan American Metals of Miami, LLC
Email: dbailey ( @ ) investpanam dot com
Website: http://www.panamericanmetalsofmiami.com
Gold reaches a high of $1732 and silver soars to $33.69 in the wake of the FOMC's announcement. 
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