Gold, Platinum And Silver All Look Strong In The Near Term Says Pan American Metals of Miami (1888PressRelease) Volatility continues in the market but gold still likely to come out on top by year's end. (1888PressRelease) MIAMI, FL So, another tumultuous week on the gold market draws to a close, leaving gold lower than one might have anticipated. Nevertheless, predictions still hold for gold to be above $1900, if not at $2000, by the year's end. Gold does perform differently from the white metals, relying more heavily on safehaven investment demand. The apparent easing of the sovereign debt crisis in Europe is not helping gold at present but the situation is far from contained and there are sufficient macroeconomic factors to support gold in the long term. Platinum benefits from both safehaven and industrial demand; additionally, demand from the jewelry industry will be particularly strong for platinum whenever the price is lower than the price of gold, an unusual occurrence. Silver can also be dragged along by gold so that it too benefits from safehaven demand. "Investors should not be overly concerned with the current state of the market for precious metals," says Bill Hionas, CEO of Pan American Metals of Miami. "The overall trend remains bullish for gold, despite fluctuations and temporary dips. Savvy investors have been waiting for just this kind of dip to buy. Market analysts are still anticipating gold prices to be in the $1900s if not at $2000 before the end of the year." Platinum should continue to see demand from investment and the jewelry industry, even if demand from the automotive industry falls off in Europe. Europe accounts for 22% of the automotive demand for platinum, which is used in the manufacture of catalytic converters. Interestingly, governments are still buying gold as if it were going out of style. Venezuela, Bolivia, Russia, South Korea, Mexico and Thailand have all been major buyers of gold this year. 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. Website: http://www.panamericanmetalsofmiami.com Press Contact Debbie Bailey Executive Administrator
Pan American Metals of Miami, LLC Email: dbailey ( @ ) investpanam dot com Website: http://www.panamericanmetalsofmiami.com Trackback URL: http://www.1888pressrelease.com/goldplatinumandsilveralllookstronginthenearterms pr335655.html ###
Published on Sep 18, 2011
(1888PressRelease) Volatility continues in the market but gold still likely to come out on top by year's end.