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Pan American Metals of Miami says Gold's Slump is a Necessary Correction

Top Quote Market is dominated by panic but history tells a different story. End Quote
  • (1888PressRelease) December 15, 2011 - MIAMI, FL - 'If you can keep your head, when all about you are losing theirs….' - Kipling's advice seems particularly apt at present as the market is dominated by panic. It is easy to get caught up in this kind of panic, but 'keeping your head' will pay off in the long run.

    Europe's woes continue, not that this should be a great surprise to most; a holdout by the UK and a disappointing bond auction for Italy have done little to engender confidence in the ultimate success of the much-touted plan. The knee-jerk reaction to this news is to sell off all risky assets and this has included precious metals bullion; even palladium has not escaped unscathed.

    A quick look back at recent history, however, gives us a different perspective. In October 2008, gold similarly slid dramatically, only to rebound more strongly than ever. Market experts have been saying for a while that a 'sharp' correction in gold, even as low as $1300, was called for before the yellow metal would rebound and reach for new highs.

    "Investors who avoid the temptation to panic and sell will likely be patting themselves on the back in a few months time, when gold bullion has rebounded and people have begun to lose faith in the dollar," says Bill Hionas of Pan American Metals of Miami. "November sales figures have been disappointing, despite seasonal hype, and nothing practical has been done to address the US budget deficit."

    Gold provides a hedge against both inflation and deflation; as such it is an investment worth holding on to - early 2012 may show us a very different picture.

    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.

    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

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