Gold and Silver Edge up Slightly on Demand from Bargain H unte rs says Pan American Metals of M iami (1888PressRelease) Gold and silver both edged up slightly today, based on buying by bargain hunters and a slightly weaker dollar.
(1888PressRelease) - MIAMI, FL - Unlike gold, silver relies heavily on industrial use, making it dependent on the strength of the economy. Silver has the highest electrical conductivity of any element and the highest thermal conductivity of any metal; its unique chemical properties make it useful in a range of industries. Silver is used in jewelry and ornaments but also in the manufacture of electric contacts and conductors, as a catalyst in chemical reactions and in highend audio equipment. On the other hand, it can play the role of safe haven also, offering, as it does, a more accessible entry point into the market than gold. Silver currently trades at approximately 1/50 the price of gold, earning it the moniker of 'poor man's gold'. Silver also enjoys physical demand from Asia where, like gold, it is in demand for jewelry and ornaments. Gold, however, enjoys both physical demand and investment demand. The number of central banks buying gold, or holding on to their gold reserves, testifies to the value placed on gold worldwide. Recent volatility suggests that investment demand may be shrinking; however, investors may be selling off gold, their best-performing asset, to cover losses elsewhere. Others may be hoping for a further drop in price in order to buy back their gold at a cheaper rate. "Gold continues to outperform other assets in times of economic crisis," says Bill Hionas of Pan American Metals of Miami. "Gold may see further corrections in the short term but the long-term picture remains positive." Pan American Metals of Miami trades in gold, silver, platinum and palladium. 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. Website: http:/ /www.panamericanmetalsofmiami.com Press Contact Debbie Bailey Executive Administrator Pan American Metals of Miami, LLC Email: dbailey ( @) investpanam dot com
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Published on Nov 24, 2011
(1888PressRelease) Gold and silver both edged up slightly today, based on buying by bargain hunters and a slightly weaker dollar.