(1888PressRelease) January 17, 2012 - MIAMI, FL - In Europe, investors seem to have mainly shrugged off S&P's downgrade of nine countries in the euro zone, including France, Spain, Austria and Italy, Friday. In fact, European stocks slid only marginally Friday and rose again Monday, following a successful French bond auction.
Standard & Poor's downgraded the credit rating of nine of the 17 members of the euro zone Friday, stripping France of its triple-A rating. French President Nicolas Sarkozy stated that the downgrade would not be allowed to define his country's financial policies. However, with only four members of the euro zone retaining a triple-A rating, the ability of the European Financial Stability Facility (EFSF) to lend money may be compromised. Meanwhile, talks are expected to resume Wednesday concerning Greece's creditors and their willingness, or otherwise, to take a 'haircut' on Greek debt. If Greece were to be allowed to default it could have devastating effects on the global economy.
"The situation in Europe is continuing to cause considerable concern, although the markets are shrugging off the recent downgrades, suggesting they have already been taken into account," says Bill Hionas of Pan American Metals of Miami. "However, the euro hit a 17-month low against the dollar last week and this is spurring investment interest in precious metals bullion, especially in gold, as a safe haven."
The intrinsic value of precious metals bullion makes it a unique financial instrument; investors are purchasing a true physical holding in a precious metal that has stood the test of time. Gold bullion has outperformed virtually any other asset in every financial crisis for the past thirty years.
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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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Debbie Bailey
Executive Administrator
Pan American Metals of Miami, LLC
Email: dbailey ( @ ) investpanam dot com
Website: http://www.panamericanmetalsofmiami.com
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