Consumer spending is up but this will not help reduce the budget deficit.
(1888PressRelease) November 28, 2011 - MIAMI, FL - Black Friday consumer spending appears to have been stronger than ever this year, which should be good news for the US economy as retailers kick off the Christmas shopping season. Certainly such news is needed as disappointing employment figures and domestic growth have plagued the nation and done nothing to diffuse its growing debt crisis.
Consumer spending accounts for roughly 70% of the US economy so there is some reason to breathe a sigh of relief over a successful day of sales. Some retailers even opened on Thanksgiving morning and many more were open to business before the last mouthful of turkey had been digested. However, achieving these sales involved, for some at least, camping out for up to 30 hours before stores opened and getting up in the middle of the night to snag the best bargains.
Perhaps the precious metals market is able to offer better bargains than some of the major retailers, and without the lack of sleep. While no one can predict future prices with certainty, most factors do point to gold rising significantly in the coming months. Even a successful Black Friday is not likely to reduce the US budget deficit or increase employment. Gold bullion offers investors a tried and trusted safe haven during times of uncertainty, and there is uncertainty to spare at the moment on both sides of the Atlantic.
"It does seem as if gold is a bargain at present prices," says Bill Hionas. "Gold bullion offers a tangible, portable asset that appeals to investors at a time when currencies worldwide are gradually being devalued."
About Bill Hionas:
Bill Hionas is CEO of Pan American Metals of Miami, LLC, 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.
Consumer spending is up but this will not help reduce the budget deficit. 
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