Precious Metals Trade Solidly Higher says Pan American Metals of Miami

Top Quote Precious metals show strong gains and renewed investor interest. End Quote
  • (1888PressRelease) January 24, 2012 - MIAMI, FL - Precious metals experienced strong gains Monday with silver up 9 cents at $32.29, platinum gaining $25 to reach $1556, palladium gaining $8 to reach $685 and gold reaching a six-week high, at $1667, a gain of almost $10. Oil was also up by 1%, as a result of the EU agreement to place a ban on all new contracts with Iran while phasing out existing contracts over the next five months. The precious metals market is also seeing renewed investor interest. Speculators are starting to rebuild positions in precious metals bullion as a more bullish trend appears to be confirmed.

    Even the most pessimistic among us have to concede that precious metals have made a truly impressive start to the year. Gold, alone, has now increased by around 10% from its December low of $1527. A higher risk of power outages in South Africa, which could impact production of platinum and palladium, has helped fuel a spike in prices for the platinum group metals while silver reached its highest level since early December and the US Mint saw sales of Silver Eagles reach 5.3 million, Friday.

    "Precious metals have really taken off during January," says Bill Hionas, CEO of Pan American Metals of Miami. "Gains have been consolidated, indicating a continued bull run. Investors are starting to show renewed interest in the precious metals market."

    Pan American Metals of Miami trades in precious metals bullion: gold, silver, platinum and palladium. Both fully funded and leveraged positions are available.

    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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