Pan American Metals of Miami says Platinum may be the Metal to Watch

Top Quote Platinum may be undervalued as gold soars on safe-haven demand. End Quote
  • (1888PressRelease) November 14, 2011 - MIAMI, FL - While the world has its eyes focused on Europe and the effect of the ongoing crisis on the price of gold, platinum may well be being overlooked. Something strange is happening with platinum at the present time, it is trading significantly lower than gold and has been for quite a while. Nevertheless, this is an unusual occurrence. Granted, platinum's dependency on the industrial sector makes it more vulnerable to the strength of the economy; however, platinum is 30 times rarer than gold and traditionally trades at a premium to the yellow metal. Not since 2008 have positions been reversed in this way.

    "Platinum does seem to be undervalued at present," says Bill Hionas of Pan American Metals of Miami. "Historically, this is extremely unusual and it is unlikely that this situation will last. Platinum did make impressive gains last week and is likely poised for a recovery."

    Platinum demand is set to increase as demand from the automotive industry grows while supplies are threatened by increased production costs and labor issues in South Africa and dwindling output from Russia.

    In fact platinum has been making steady gains, asking $1646 at the time of writing. Gold is at $1779, approximately 8.5% higher than platinum; platinum has been chasing gold for a while, however.

    Pan American Metals of Miami offers clients opportunities to purchase precious metals bullion, gold, silver, platinum and palladium. Investors wishing to add platinum to their portfolio are encouraged to contact PAMOM for further information.

    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

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