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News from Europe Continues to be Disappointing, Supporting Gold on Safe-Haven Demand says Pan American Metals of Miami | |
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October 20, 2011 Macroeconomic concerns should be bullish for gold. MIAMI, FL - The situation in Europe worsened again today as news broke of further riots in Athens. One can hardly help but sympathize with both sides of this predicament. On the one hand, to earn its bail out funds, Greece has been forced to implicate strict austerity measures, measures that impact greatly on its citizens who, in turn, see the wealthier members of society and a government some believe to be corrupt as being responsible for their suffering. On the other hand, other members of the European Union are concerned to minimize the impact of Greece's indebtedness on the common currency. Both viewpoints are perfectly understandable. German Chancellor Angela Merkel and French President Nicolas Sarkozy, representing the largest economies in Europe, have been working together to find a solution but, as yet, no viable agreement has been reached. Meanwhile, Spain has also had its credit rating downgraded two notches by Moody's, further damaging credibility in the euro. Whatever the eventual outcome of the European debacle, the effect on the gold bullion market should be supportive. With such negative economic news, a safe haven is clearly necessary. At present, the market is not reacting exactly as one would anticipate; nevertheless, the long-term outlook for gold bullion is positive. "The ongoing concerns about the European situation means that gold bullion should rise as investors search for a safe haven," says Bill Hionas, CEO of Pan American Metals of Miami. "Precious metals bullion, due to its intrinsic value, offers a level of security not readily found in other investments." The price of gold continues to swing back and forth from day to day; nevertheless, the overall trend, given the macroeconomic situation, should be firmly bullish. 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.com Website: http://www.panamericanmetalsofmiami.com Source: http://www.1888pressrelease.com/news-from-europe-continues-to-be-disappointing-supporting-g-pr-344197.html |
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