Precious Metals Recover as Dollar Weakens says Pan American Metals of Miami

Top Quote Gold climbs back up again; white metals gain also. End Quote
  • (1888PressRelease) October 24, 2011 - MIAMI, FL - At the time of writing gold prices are making their way back up the roller coaster again, having climbed back to around $1640; analysts who warned of continuing volatility, perhaps through the end of the year, were clearly correct. It does seem, however, that this is a less spectacular roller coaster, perhaps the tamer version designed for small children. This has not been the best week for gold, certainly, but it does appear to be traveling within a smaller range, staying in the $1600s - for now at least. At the lower end of this range we should expect to see bargain hunters moving in and picking up some very good deals.

    The jewelry industry is having a harder time of it with the higher gold prices. A necklace or bracelet that would have retailed two years ago for, say, $1000 would now cost at least $2000. While there will always be a luxury market for jewelry, the average purchaser is not necessarily prepared to pay these prices; consequently, jewelers are using more and more alloys and cheaper substitutes for gold. Palladium and silver will likely be the biggest beneficiaries of this trend.

    Palladium actually showed the greatest gains today, percentage wise; if gold were to rise by the same percentage, it would be well over $1700. Supplies of palladium are looking less assured in the near future and it has considerable demand from the jewelry industry as an alternative to gold or platinum.

    Silver is also making significant gains, up over 2% today. Silver will benefit from a stronger economy due to industrial demand while also attracting some safe-haven demand as a cheaper alternative to gold.

    Pan American Metals of Miami, under the leadership of Bill Hionas, is a precious metals brokerage located in Miami, at the financial hub of North and South America.

    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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