Pan American Metals of Miami Says Long-term Gold Prospects Unaffected by News of Possible Debt Settlements

Top Quote Investors interested in the long term are not concerned with temporary variations in price. End Quote
  • (1888PressRelease) July 22, 2011 - MIAMI, FL - Following its record-breaking run on Monday, gold is continuing to waver around the $1600 mark as rumors abound about possible settlement of the debt crises both in the US and Europe. President Obama's 'Gang of Six' compromise would, if it gets the necessary votes, raise the debt ceiling, giving the US some breathing space and avoiding the possibility of a default. Additionally, there was news today, July 21, that European leaders had agreed on a plan to contain the area's sovereign debt crisis. This news, combined with hopeful news from the US, meant that gold's appeal as a safe haven investment diminished slightly.

    However, none of this should cause any great concern to those holding gold bullion as an inflation-proof investment. It is always expected that prices will go up and down every time there is news on international economic crises. Regardless of the news, market analysts remain fairly united in their view that both gold and silver will continue to see substantial rises in the months ahead. Apart from anything else, there is no magic wand that will make either the European or the US debt issues disappear; suggested solutions are temporary at best. The European agreement would extend the maturity dates on loans and lower interest rates, which should give some relief to countries such as Greece, Italy and Ireland. If the US proposal were to pass it would remove the threat of a default and permit the raising of the debt ceiling but would mean drastic spending cuts and involve a reform of Medicare, Social Security and the tax system. There are still doubts that Republicans will agree to any proposal that might raise taxes, even indirectly.

    "Investors interested in the long term will be unfazed by these ups and downs in the market," says Bill Hionas, CEO of Pan American Metals of Miami, "They will be sleeping easily, knowing that their investment in precious metals will continue to make gains."

    Pan American Metals of Miami has a team of seasoned brokers and traders available to advise its clients on their precious metals purchases. Advice is tailored to the unique needs of every client, whether institutional or individual.

    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.


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

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