Platinum Rallies amid Concerns of Future Production Cuts says Pan American Metals of Miami

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Platinum Rallies amid Concerns of Future
Production Cuts says Pan American Metals of Miami
(1888PressRelease) Platinum shows signs of
recovery. MIAMI, FL, October 10, 2011, Lower
than normal platinum prices have been a concern
to platinum producers with a threat of production
cuts down the line. Three-quarters of the world's
platinum comes from South Africa fortunately the
dollar has strengthened against the rand, meaning
that it is still possible for producers to
profit, even at lower prices. However, labor and
production costs have been rising, so the
situation continues to be worrisome. It is
unusual for platinum to be trading at so much
lower a price point than gold, especially given
the noble metal's rarity. Worries about the
economy will discourage spending on luxury items
like cars, reducing demand for platinum, which is
used in the manufacture of catalytic converters
an upturn in the economy on the other hand, would
be bullish for platinum, which depends heavily on
industrial demand. Platinum is both dense and
malleable, a unique mix it does not oxidize at
any temperature and is very resistant to
corrosion, making it highly appropriate for
jewelry, electrical, laboratory, and dentistry
applications. "It is a little early to tell just
what will happen to platinum prices," says Bill
Hionas of Pan American Metals of Miami. "At the
moment there are no immediate production cuts
scheduled and the rising dollar is helping the
South African producers." Platinum pushed back
above 1500 today, giving a more optimistic
outlook for the metal. Pan American Metals was
showing platinum at 1522, a gain of 27.
Investors interested in taking a position in
platinum should consult with Pan American Metals
of Miami.
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About us Pan American Metals of Miami, LLC is a
group of traders, investors and account
executives 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 ( _at_
) investpanam dot com Website http//www.panameri
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