Pan American Metals of Miami says US Dollar Slid as Gold Gained $16 Overnight

Top Quote The US dollar slid today against a bundle of other currencies, including the yen and the euro. End Quote
  • (1888PressRelease) January 11, 2012 - MIAMI, FL - The euro was a little healthier following Fitch's decision to allow France to retain its triple-A credit rating for this year; nevertheless, the troubled currency faces a long climb back. Winner in the currency game was likely Australia, whose dollar strengthened on news that China had a significantly increased trade surplus in December 2011. A greater appetite for risk in the markets also served to reduce the attraction of the dollar as a safe haven. Hints from members of the Federal Open Market Committee that the Federal Reserve will consider further stimulus also contributed to the dollar's downward turn. The dollar's slide, and the increased appetite for risk combined to push the price of gold considerably higher, pushing it through a technical resistance level.

    "For decades, gold bullion has proven to be the sane choice for wealth protection and a hedge against inflation," says Bill Hionas of Pan American Metals of Miami. "Considering the loss in value of the US dollar over the last decade alone, it is obvious that, liquidity aside, this is not the safest choice for investors. During the latter part of 2011, the US budget deficit became larger than its GDP. This puts the nation in the same dangerous territory as many southern European nations."

    If gold holds on to the current rally, then optimistic projections for 2012 become more and more realistic. Clients interested in taking a position in gold, or other precious metals bullion, should contact the investment team at Pan American Metals of Miami for further advice.

    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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