Gold Edges Back Over $1700 says Pan American Metals of Miami

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Gold Edges Back Over 1700 says Pan American
Metals of Miami
(1888PressRelease) Weaker dollar helps push gold
back through the 1700 barrier. MIAMI, FL -
Tuesday morning, November 22, saw gold prices
edging back over 1700 due to a weaker dollar and
increased safe-haven demand. With the
Thanksgiving holiday causing a short trading week
in the US, some investors may be taking a 'wait
and see' approach as they prepare to enjoy the
long weekend. Friday is a half-day for trading on
the New York exchange making it a three-day week
to all intents and purposes. All four precious
metals showed gains today with gold breaking back
through 1700 and palladium back through 600 an
ounce. Silver and platinum also gained. "I
think we are finally seeing signs that gold is
reclaiming its safe-haven status," says Bill
Hionas of Pan American Metals of Miami. "The
failure of the super committee to agree on a
viable solution to the budget deficit problem is
finally causing people to lose faith in the
dollar." Figures for US growth during the third
quarter of the year were also disappointing,
leading to further doubts about the US economy.
The failure of the super committee to reach
agreement means that many current tax programs
could expire shortly, leaving households worse
off. Consumer spending accounts for around 70 of
the US economy. "The fundamentals underpinning
precious metals bullion have not changed," says
Bill Hionas. "Macroeconomic factors are strongly
supportive of gold, in particular. The current
debt issues are causing people to choose the
intrinsic value of precious metals over fiat
currencies." 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
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Press Contact Debbie Bailey Executive
Administrator Pan American Metals of Miami,
LLC Email dbailey ( _at_ ) investpanam dot
com Website http//www.panamericanmetalsofmiami.c
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