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Pan American Metals of Miami says Speculators are Buying Precious Metals Despite Dip in Price | |
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November 21, 2011 A sharp dip in the price of gold has apparently not deterred speculators from buying. MIAMI, FL - There is evidence of increased exposure to precious metals on behalf of speculators; Debbie Carlson of Kitco News reported today that the Commodity Futures Trading Commission data suggests that speculators are increasing their exposure not only to gold but also to silver and the platinum group metals. All four precious metals were trading markedly lower today, November 21, as the dollar seemed to be the favored safe haven and assets perceived as risky were being sold off in view of the ongoing debacle in Europe. It remains to be seen what effect the outcome of the super committee's efforts to reduce the US deficit will have on the dollar. It is looking increasingly unlikely that the two polarized factions will reach agreement and the increased likelihood of serious debt issues in the US, on par with what has been witnessed in Europe, might well be sufficient to drive investors back to gold and away from any kind of fiat currency. "It is looking increasingly unlikely that there will be a viable solution to reducing the US deficit by Wednesday's deadline," says Bill Hionas, CEO of Pan American Metals of Miami. "If US debt issues return to the forefront of the news, the dollar may begin to look less attractive." Consensus among market experts is that the long-term outlook for precious metals remains positive. Predictions are for gold to return to $1800 by the end of the year and to reach $2000 in 2012. If this is the case then today's price dip presents the perfect buying opportunity. 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/pan-american-metals-of-miami-says-speculators-are-buying-pre-pr-352116.html |
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